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Old 26th Aug 2006, 08:33
  #19 (permalink)  
Join Date: Jan 2001
Posts: 11
It is wrong to think that you will pay 16% tax on a monthly income of 40k. You need a much higher income than that in order to reach the "flat rating" of 16%.
Check and you will see that on an anual income of HKD 480,000, with a wife and two kids, you end up paying 27,500 in tax - much less than the seven odd thousand per month which was suggested.
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