Income Tax Rates Hong Kong

The key features of hong kong s salary tax are as follows.

Income tax rates hong kong. Assessable income after deductions but before allowances then you have to pay the lower amount of tax. Single tier corporate tax system and the second one is two tier profits tax regime. There are five marginal tax brackets of 2 6 10 and 14 and 17. But if what you need to pay on the basis of your net chargeable income exceeds the tax charged at standard rate on your net total income i e.

Hong kong has an attractive corporate tax regime highlighted by low tax rates. The first one is the traditional one. Corporations are taxed at 16 5 on assessable profits and unincorporated businesses are taxed at 15. The personal income tax rate in hong kong stands at 17 percent.

Tax exemptions in respect of relief measures under the anti epidemic fund relief measure. Year of assessment 2014 15 to 2016 17. Both corporate and personal tax rates of hong kong are considered as one of the lowest in the world. Unlike flat corporate tax rate hong kong s salary tax rates follow a progressive tax rate system.

Income tax rates and thresholds annual tax rate taxable income threshold. In hong kong for single tier tax system. Personal income tax rate in hong kong averaged 15 38 percent from 2004 until 2019 reaching an all time high of 17 percent in 2019 and a record low of 15 percent in 2008.