Hong Kong Income Distribution 2020

For a country with this many people living there hong kong is a surprisingly small country only cover 427 square miles 1 110 square kilometers of area which ranks 183 rd in terms of area.

Hong kong income distribution 2020. Measures contained in the 2020 21 hong kong budget announced on the same date. At the end of 2017 hong kong had 7 392 million living there ranking it 104 th in the world for population. Hong kong highlights 2020 page 4 of 8 kong source employment income is subject to salaries tax. If an employment is a hong kong employment the income from employment services rendered both in and outside hong kong is regarded as hong kong sourced employment income.

One in three elderly hongkongers lives below the poverty line. Hong kong s number has climbed 0 006 points since 2006 according to the city s census and statistics department. In determining the source of profits hong kong. The average household income in hong kong depends on a number of factors.

2 the rank that you see is the cia reported rank which may have the following issues. Wages in hong kong averaged 12797 05 hkd month from 1999 until 2020 reaching an all time high of 17304 hkd month in the third quarter of 2019 and a record low of 10382 hkd month in the first quarter of 2005. Hong kong area and population density. Key among these factors is the source of income which in this case refers to the type of profession.

Taxable income hong kong source income excluding profits arising from the sale of capital assets is subject to profits tax. Distribution of family income gini index. All suggestions for corrections of any errors about hong kong economy 2020 should be addressed to the cia or the source cited on each page. Hong kong tax guide 2020 1 contents investment basics 2 overview of hong kong taxation 4 taxation for businesses.

An individual who visits hong kong for no more than 60 days in a tax year from 1 april to 31 march of the following year is not liable to salaries tax. However salaries increased to an average of 17 200 hkd per month in the 2nd quarter of 2019. On a seasonally adjusted quarter to quarter basis real gdp rebounded by 2 8 in the third quarter arresting the declines in the preceding five quarters. Average household income in hong kong.

The hong kong economy saw some improvement in the third quarter of 2020 with the year on year decline in real gdp narrowing visibly to 3 5 from 9 0 in the second quarter. A person working in hong kong typically earns around 36 600 hkd per month. This is the average monthly salary including housing transport and other benefits. Profits tax 5 compliance for profits tax 8.

Hong kong is an autonomous territory located in. Wages in hong kong increased to 16967 hkd month in the second quarter of 2020 from 16955 hkd month in the first quarter of 2020. 53 9 2016 53 7 2011 est.