Hong Kong has the freest economy in the world!

12.01.2012

According to the information from Heritage Foundation – the strategic research Institute of the USA - Hong Kong for 2012 takes a leading position among the countries with free economics. The criteria of freedom of the economy are the rule of law, law enforcement effectiveness, limited government intervention and open access to markets.

According to the calculations of the Institute Hong Kong scored 89.9 points out of 100 – it’s the highest rate of free economy in the world. (Countries with the freest economics gain 80 points or higher). It should be noted that Singapore is not far behind on indicators of economic freedom and gets 87.5 points out of 100.

Expert’s opinion

“Today Hong Kong is one of the world's leading financial and business centers. Special Administrative Region of China has a fairly attractive tax system: corporate tax rate is 16.5%, income derived outside Hong Kong is not taxed, there are no capital gains tax, value added tax, tax on dividends and interest. These facts are incentives for making investments into the region. The status of "the freest economics" of Hong Kong, according to the Heritage Foundation, will only increase the authority of the jurisdiction in the international arena”.

On the basis: www.tax-news.com

Vorontsova Maria ( the lawyer of international consulting department of Honest&Bright)