low-rate individual income tax that also largely exempts capital gains (with a combined top rate of 39 percent), a well-structured property tax, and a broad-based VAT. Switzerland has a relatively low corporate tax rate (19.7 percent), a low, broad-based consumption tax, and an individual income tax that partially exempts capital gains from
Hong Kong is one of these “tax-free” countries in Asia, and it’s among one of the best countries with a territorial tax system. The rest of the tax-free nations that follow are mostly located in Southeast Asia – Singapore, the Philippines, and Thailand. But this is not a “plug and play” system wherein you can just get a visa and
revert to the regular income tax regime. RUU HPP retains the final income tax regime for individual SME taxpayers. RUU HPP also provides that the first IDR 500 million of gross revenue of an individual SME taxpayer would not be subject to tax. A 0.5% final income tax rate will be imposed on the gross revenue exceeding IDR 500 million.
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