[Malt56]

I am a Philippine resident and would like to send US$15K to HK. Will the recipient be charged tax for the incoming funds. If so how much % would that be?

[tickle]

No, you pay all taxes on your end.

[Fr_Chuck]

Agree no, there should be no taxes.

[AtlantaTaxExpert]

Gentlemen (Tickle or Fr. Chuck),

Unless you did some extensive research on-line, how do you know whether any transfer taxes are due in Hong Kong?

It is true that there are no transfer taxes here in the United States, but many other countries DO charge such transfer taxes.

I doubt Hong Kong is one of them, but I do not know for sure.

Do you?

[tickle]

@ Mr. Atlanta,
I had never heard of Hong Kong referred to as HG before;
I don't know why everyone assumes I am male, it is ms. tickle; there is clearly a female in my avvy :). And no, I hadn't researched it, just assumed, I send wire transfers to Asia.

From lowtaxnet.com:

A number of taxes that exist in most jurisdictions do not exist in Hong Kong. Thus there are no capital gains taxes, no withholding taxes, no sales taxes, no VAT, no annual net worth taxes and no accumulated earnings taxes on companies which retain earnings rather than distribute them. In the long term it is intended to completely phase out stamp duty on the sale and issue of shares and securities and to reduce direct taxes further.

[AtlantaTaxExpert]

It was HK, not HG, but I agree that there probably is no transfer taxes.