LLHK

Hi Sir I am writing to seek advices the calculation for my pay to DCNI schemes regarding my Mandatory Provident Fund (MPF) contributions in Hong Kong. In Hong Kong, the MPF scheme requires both employers and employees to make mandatory contributions of 5% of the employee’s relevant income, up to a statutory cap of HKD 1,500 per month. For 2023/24, I am a tax resident in UK and I am under a Hong Kong employment (e.g. HKD 30,000 per month). After deducting my contribution to the MPF, the actual amount received is HKD28,500 per month. My annual salary should be HK$30,000 * 12 months = HK$360,000 The actual received is HK$28,500 * 12 months = HK$342,000 (after deducting the contribution to MPF) I would like to know: 1. For calculating the National Insurance contributions (NICs), I should use HK$30,000 or HK$28,500 as my pay amount in the PAYE monthly submission? 2. For calculating the Income Tax, I should use HK$360,000 or HK$342,000 as my annual pay amount in self-assessment?

Hi Sir I am writing to seek advice regarding the tax reliefs for paying into an overseas pension schemes for my Mandatory Provident Fund (MPF) contributions in Hong Kong. In Hong Kong, the MPF scheme requires both employers and employees to make mandatory contributions of 5% of the employee’s relevant income, up to a statutory cap of HKD 1,500 per month. For 2023/24, I am a tax resident in UK and I am under a Hong Kong employment (e.g. HKD 30,000 per month). After deducting my contribution to the MPF, the actual amount received is HKD28,500 per month. Annually, my salary should be HK$30,000 * 12 months = HK$360,000 The actual received is HK$28,500 * 12 months = HK$342,000 I would like to know: 1. When I fill the self-assessment, my annual contribution of HK$18,000 will considered as payments to an overseas pension scheme (tax reliefs) and deducted from my income when calculating the income tax payable?