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Could Hong Kong’s status as a business hub be threatened under global minimum tax reform?

Summary:
[unable to retrieve full-text content]Hong Kong’s low tax rate has been a major incentive for American businessman Nicholas Appel to live and work in the city for the past 25 years.But along with challenges like the city’s high cost of living, the prospect of higher taxes under a minimum global corporate tax rate is one more reason to wonder whether it is worth staying.“We really love Hong Kong but it’s not a sustainable place to live in if you don’t have income to support it,” Appel said. “If the profitability of a business as a…

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[unable to retrieve full-text content]
Hong Kong’s low tax rate has been a major incentive for American businessman Nicholas Appel to live and work in the city for the past 25 years.But along with challenges like the city’s high cost of living, the prospect of higher taxes under a minimum global corporate tax rate is one more reason to wonder whether it is worth staying.“We really love Hong Kong but it’s not a sustainable place to live in if you don’t have income to support it,” Appel said. “If the profitability of a business as a…

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