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Hong Kong Salaries Tax

Hong Kong Salaries Taxation

Personal tax in Hong Kong is often referred to as “salary tax”. 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. There are four marginal tax brackets of 2%, […]

Hong Kong Social Insurance

Social Insurance

Social insurance payments in Hong Kong are in the nature of a private arrangement. However, in 2000 the government passed the Mandatory Provident Fund Ordinance. As from December 1, of that year all employees and self employed individuals earning more than $4,000.00 HKD /month had to contribute a minimum of 5% of their salary up […]

Hong Kong Gifts Tax

Gifts Tax

Gift tax in Hong Kong is levied at a progressive rate. Inter-vivos gifts which are not made for valuable consideration attract stamp duty of up to 2.75% where the gift has a value in excess of $513,000.00 HKD whereas no tax is payable if the gift is worth less than $128,000.00 HKD or where the […]

Hong Kong Withholding Tax

Street Lights in Hong Kong

There are no withholding taxes in Hong Kong as such, but if a company is making a payment to his foreign subsidiary or holding company which is considered to be income sourced in Hong Kong, the company needs to withhold tax. When a Hong Kong company pays royalties for the use of intellectual property (IP) […]

Hong Kong Stamp Duty

Hong Kong by Night

Stamp duty is most frequently encountered in connection with the sale or lease of interests in Hong Kong immovable property, and the transfer of shares of companies which are either incorporated in Hong Kong or listed on the Hong Kong Stock Exchange.  The range of instruments which are potentially subject to stamp duty is wide, […]

Hong Kong Property Tax

Hong Kong Real Estate

Property tax is levied on an annual basis and paid by the owner or occupier of real estate located in Hong Kong. Since ownership can be split separate assessments can be made on the same plot of land. Property tax is governed by the provisions of the Inland Revenue Ordinance. The assessment is based on […]

Hong Kong Profits Tax Rates

Hong Kong by Night

Companies pay a standard rate of 16.5% on assessable profits. Unincorporated Businesses (Businesses other than corporate entities) pay a rate of 15% on assessable profits. All taxpayers are subject to the same corporation or unincorporated business tax rate irrespective of their residential status. Concessionary rates Special concessionary rates apply to the following businesses or sources […]

Hong Kong Profits Tax Overview

Hong Kong Corporate Taxation

Profits tax is raised according to the Inland Revenue Ordinance on the “assessable profits” of corporate entities, partnerships, trusts and sole proprietorships. It is levied according to the “territorial principle”, it is the income source  rather than the residential or non-residential status of the entity that determines whether or not income is or is not subject […]

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