Filing taxes every year is a citizen’s responsibility, but not everyone is required to pay taxes. Employees are entitled to a basic tax exemption each year. There are also other tax deductions, including medical insurance, pensions, voluntary mandatory MPF contributions, and “family tax exemptions.” What qualifications are required to apply for a tax exemption for supporting parents?
There is a misconception passed down by “predecessors” that if a company is losing money, it can report losses to the tax bureau and avoid tax, thus saving money and time. In fact, even if a company has no profit or even runs at a loss, it can still claim tax deductions.
Many people think that being a boss is all about instructing others to do things every day, but the truth is boss has to manage all the things by himself/herself. And does the “self-employed” boss need to pay? Isn’t it just move the money from left hand to right hand? Wait, bosses, pay attention! You as a director of the company, every time you pay out is not only “meaning”, but has practical significance. Make good use of personal allowances and save money when you know how to earn!
