chris

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About chris

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So far chris has created 46 blog entries.

I made a gift, now what?

Holidays season has just passed and you’ve probably gave away a lot of presents. Have you ever wondered whether these gifts are subject to any tax? What is a gift? A gift is made when the value of the property transferred (directly or indirectly) exceeds the value of consideration received in return. Thus, if you’re [...]

FBAR, US taxes|0 Comments

Penalties to watch out for

Having to file tax returns every year can be challenging and painful. But what’s worse? The IRS can penalize you for all sort of reasons and it can cost you a great deal of money and time to resolve. Here is a list of penalties that are most encountered by taxpayers. Penalty for Not Filing [...]

FBAR, Tax Filing, US taxes|0 Comments

General Hong Kong Tax Guide

Do you need assistance with Hong Kong salaries tax? Here is an overview of the general individual taxation system in Hong Kong. In Hong Kong, Hong Kong adopts a territorial source principle of taxation. Individuals are taxed only on income that has been “earned in Hong Kong”. There is no capital gains tax, no interest/dividend tax and no inheritance [...]