The salaries tax is capped at 15%, but only the 10, 000 richest Hong Kong residents pay it at that rate.
Hong Kong has no general income tax, only a salaries tax, a corporate-profits tax and its equivalent of a property tax.
Low salaries and high tax rates would seem to be a formula for work disincentives and economic stagnation.
The OIA recently released figures tallying the state-by-state impacts of outdoor recreation, including direct spending, jobs, salaries, and tax revenue.
One is the frictional cost of running a system like this--paying the salaries of the tax lawyers, the lobbyists, the hardworking bureaucrats like Sciscioli.
The LOBO administration inherited a difficult fiscal position with off-budget debts accrued in previous administrations and government salaries nearly equivalent to tax collections.
Those who have done so already are mostly wage-earners who have tax deducted from their salaries and feel they have no option but to report their incomes because they are already in the tax authorities' records.
The OECD bureaucrats (who get tax-free salaries, by the way) endorsed Obamacare, supported the failed stimulus, and are big advocates of a value-added tax for America.
Well, they certainly can afford lots of drugs since they get tax-free salaries (just like their counterparts at other international bureaucracies), but these numbers are the not the result of some ketamine-fueled binge.
Public employee unions have a lucrative racket: They essentially leverage the tax dollars they receive in dues from the salaries and benefits of their members to lobby for more tax dollars to secure even fatter pensions and pay.
So after the tax hikes wages and salaries are now barely growing after inflation.
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This creates public sector employment as the tax take pays the salaries and benefits.
But, there also are pernicious consequences of the new payroll tax affecting wages and salaries.
Cypriot lawmakers have already approved a raft of cuts to government worker salaries and pensions as well as tax increases under a preliminary bailout deal.
Earlier this month Jang's 3, 000 employees were told the group's bank accounts had been frozen by the tax authorities, so salaries could not be paid.
Most of the employers cushioned islanders from the income tax bills by increasing salaries to match (though not necessarily overtime rates) and paid their property taxes.
The second benefit, according to analysis done by the Joint Committee on Taxation, another non-partisan outfit, is that it will lift salaries for many Americans and raise tax revenues.
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Although the activists also complained about the non-payment of salaries and the introduction of a new tax system, most of their hostility was directed at Rwanda.
The real-world example given is that of an investment bank that required top earners to donate 4% of their salaries to charity, and checked their tax returns to make sure they did.
Management often seeks large salaries and bonuses, since they are mostly tax deductible, too.
The homeowner's tax incentive generates new sales tax revenue on building materials, not to mention added income tax revenue on construction workers' salaries.
Salaries that used to place coaches in a tax bracket with teachers and insurance salesmen have surged to make many of them millionaires.
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Like other workers in Dubai, Emirates' employees do not pay income tax, which means that gross salaries can be much lower than at European and American rivals.
Keep in mind that if the tax cuts expire, rates on salaries and other ordinary income, as well as the rates on dividends and capital gains, are expected to rise.
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"Personal income in November and December was boosted by accelerated and special dividend payments to persons and by accelerated bonus payments and other irregular pay in private wages and salaries in anticipation of changes in individual income tax rates, " the Commerce Department's Bureau of Economic Analysis said.
Most Hong Kong tycoons reward themselves in the same tax-minimizing way, keeping their salaries low and dividend payments high.
On top of a cornucopia of grants, subsidies and tax concessions, the government pays the salaries of the 8, 800 Japanese who work in the bases.
And with fixed-rate mortgages coming to an end, higher fuel costs, food bills and council tax, it says many people with decent salaries are struggling.
For the record, we at TrimTabs track daily Treasury collections of withheld income and employment taxes and adjust for changes in tax rates to estimate real time wages and salaries.
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In order to not have corporate tax they would have had to have paid out salaries in December.
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