Singapore
AsiaHong Kong
AsiaSingapore vs Hong Kong Tax Comparison
Summary
0
🇸🇬 Singapore
1
Ties
6
🇭🇰 Hong Kong
🇭🇰 Hong Kong has lower tax rates in more categories
Tax Rates Comparison
| Category | 🇸🇬Singapore | 🇭🇰Hong Kong |
|---|---|---|
| Top Income Tax Rate | 24% | 17%Lower |
| Corporate Tax Rate | 17% | 16.5%Lower |
| VAT / Sales Tax | 9% | 0%Lower |
| Capital Gains Tax | 0% | 0% |
| Employee Social Security | 20% | 5%Lower |
| Employer Social Security | 17% | 5%Lower |
| Self-Employed Social Security | 8% | 5%Lower |
Living Indicators
| Category | 🇸🇬Singapore | 🇭🇰Hong Kong |
|---|---|---|
| Cost of Living Index | 85 | 80Lower |
| Quality of Life Index | 82 | 72Lower |
| Tax Treaties | 90 | 45Lower |
Income Tax Brackets
Singapore
Progressive rates. No tax on income earned and kept abroad (territorial basis for individuals).
Hong Kong
Salaries tax with standard rate of 15% on net income as alternative. Territorial taxation - only HK-sourced income taxed.
Special Tax Regimes
Singapore
Not Ordinarily Resident (NOR)
Tax only on Singapore-source income based on time spent in Singapore for qualifying individuals.
Global Investor Programme
Permanent residency through investment in business or fund.
Hong Kong
Two-Tiered Profits Tax
8.25% rate on first HKD 2M of assessable profits. 16.5% on the remainder.
Digital Nomad Visa
Disclaimer: This content is for informational purposes only and does not constitute tax advice. Tax laws change frequently. Always consult a qualified tax professional before making decisions about your tax residency or obligations.
Data last updated: Singapore (2024-01) · Hong Kong (2024-01)