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Hong Kong Taxation Service

Hong Kong Taxation Services

Hong Kong Tax Rates of Profits Tax - Simple and Low tax rate


Unlike most countries which apply both residential jurisdiction and territorial jurisdiction in determining the tax liability of a person, Hong Kong uses only the territorial source jurisdiction and disregards the concept of residence. Thus, only profits sourced in Hong Kong would be taxable whereas a person's overseas income will not be taxable.

Profits Tax - Tax Rates Applicable to Corporations


2018/19 onwards : Assessable profits over $2,000,000 - 16.50%; Assessable profits below $2,000,000 - 8.25%;
2008/09 onwards : 16.5%
Tax Waive:
(1) Per 2021-22 Budget, 100% of the 2020/21 profits tax is waived subject to a ceiling of $10,000 per case. (Legislative amendments are required for implementing the proposed measures.)
(2) 100% of the 2019/20 profits tax is waived subject to a ceiling of $20,000 per case.
(3) 100% of the 2018/19 profits tax is waived subject to a ceiling of $20,000 per case.
(4) 75% of the 2017/18 profits tax is waived subject to a ceiling of $30,000 per case.
(5) 75% of the 2016/17 profits tax is waived subject to a ceiling of $20,000 per case.
(6) 75% of the 2015/16 profits tax is waived subject to a ceiling of $20,000 per case.



Profits Tax - Tax Rates Applicable to Unincorporated Businesses


2018/19 onwards: Assessable profits over $2,000,000 - 15%; Assessable profits below - 7.5%
2008/09 onwards : 15%
Tax Waive:
(1) Per 2021-22 Budget, 100% of the 2020/21 profits tax is waived subject to a ceiling of $10,000 per case. (Legislative amendments are required for implementing the proposed measures.)
(2) 100% of the 2019/20 profits tax is waived subject to a ceiling of $20,000 per case.
(3) 100% of the 2018/19 profits tax is waived subject to a ceiling of $20,000 per case.
(4) 75% of the 2017/18 profits tax is waived subject to a ceiling of $30,000 per case.
(5) 75% of the 2016/17 profits tax is waived subject to a ceiling of $20,000 per case.
(6) 75% of the 2015/16 profits tax is waived subject to a ceiling of $20,000 per case.



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