You don't have to pay tax to buy 50 thousand platinum diamond rings in Hong Kong. Individuals who buy jewelry or luxury goods in Hong Kong do not have to pay taxes. At present, there is no value-added tax or sales tax in Hong Kong, and there is no special consumption tax or customs duty on jewelry and luxury goods. Therefore, there is no need to pay extra taxes to buy a platinum diamond ring of HK$ 50,000 in Hong Kong. Hongkong is a special administrative region in the south of China, located on the east bank of the Pearl River Estuary, bordering Guangdong Province in the east and the South China Sea in the south.