Tax Rates of Profits Tax
Here you can know more about the tax rates of profits tax for different years of assessment, including profits tax related to corporations, unincorporated businesses and non-resident entertainers and sportsmen.
Tax Rates Applicable to Corporations
Corporation rate
| Year of Assessment | Tax Rate |
|---|---|
| 2008/09 onwards (Note) | 16.5% |
| Year of Assessment | Tax Rates |
|---|---|
|
2018/19 onwards |
8.25% on assessable profits up to $2,000,000; and 16.5% on any part of assessable profits over $2,000,000 |
Note
(1) Per 2024-25 Budget, 100% of the 2023/24 profits tax is waived subject to a ceiling of $3,000 per case. (Legislative amendments are required for implementing the proposed measures.)
(2) 100% of the 2022/23 profits tax is waived subject to a ceiling of $6,000 per case.
(3) 100% of the 2021/22 profits tax is waived subject to a ceiling of $10,000 per case.
(4) 100% of the 2020/21 profits tax is waived subject to a ceiling of $10,000 per case.
(5) 100% of the 2019/20 profits tax is waived subject to a ceiling of $20,000 per case.
(6) 100% of the 2018/19 profits tax is waived subject to a ceiling of $20,000 per case.
Tax Rates Applicable to Unincorporated Businesses
Standard rate
| Year of Assessment | Tax Rate |
|---|---|
| 2008/09 onwards (Note) | 15% |
| Year of Assessment | Tax Rates |
|---|---|
|
2018/19 onwards |
7.5% on assessable profits up to $2,000,000; and 15% on any part of assessable profits over $2,000,000 |
Note
(1) Per 2024-25 Budget, 100% of the 2023/24 profits tax is waived subject to a ceiling of $3,000 per case. (Legislative amendments are required for implementing the proposed measures.)
(2) 100% of the 2022/23 profits tax is waived subject to a ceiling of $6,000 per case.
(3) 100% of the 2021/22 profits tax is waived subject to a ceiling of $10,000 per case.
(4) 100% of the 2020/21 profits tax is waived subject to a ceiling of $10,000 per case.
(5) 100% of the 2019/20 profits tax is waived subject to a ceiling of $20,000 per case.
(6) 100% of the 2018/19 profits tax is waived subject to a ceiling of $20,000 per case.
Retained Amount Applicable to Non-Resident Entertainers and Sportsmen
Below is the amount to be withheld by the Hong Kong payer for tax payment for performances.
Performance procured directly with the non-resident entertainers or sportsmen
Standard rate
| Year of Assessment | Tax Rate | Amount to be Retained |
|---|---|---|
| 2008/09 onwards (Note) | 15% | 10% of gross amount payable |
| Year of Assessment | Tax Rates | Amount to be Retained |
|---|---|---|
|
2018/19 onwards |
7.5% on assessable profits up to $2,000,000; and 15% on any part of assessable profits over $2,000,000 |
10% of gross amount payable |
Performance procured through a non-resident agent who is an individual person or a partnership
Standard rate
| Year of Assessment | Tax Rate | Amount to be Retained |
|---|---|---|
| 2008/09 onwards (Note) | 15% | 10% of gross amount payable |
| Year of Assessment | Tax Rates | Amount to be Retained |
|---|---|---|
|
2018/19 onwards |
7.5% on assessable profits up to $2,000,000; and 15% on any part of assessable profits over $2,000,000 |
10% of gross amount payable |
Performance procured through a non-resident agent who is a corporate agent or a corporation
Corporation rate
| Year of Assessment | Tax Rate | Amount to be Retained |
|---|---|---|
| 2008/09 onwards (Note) | 16.5% | 11% of gross amount payable |
| Year of Assessment | Tax Rates | Amount to be Retained |
|---|---|---|
|
2018/19 onwards |
8.25% on assessable profits up to $2,000,000; and 16.5% on any part of assessable profits over $2,000,000 |
11% of gross amount payable |
Note
(1) Per 2024-25 Budget, 100% of the 2023/24 profits tax is waived subject to a ceiling of $3,000 per case. (Legislative amendments are required for implementing the proposed measures.)
(2) 100% of the 2022/23 profits tax is waived subject to a ceiling of $6,000 per case.
(3) 100% of the 2021/22 profits tax is waived subject to a ceiling of $10,000 per case.
(4) 100% of the 2020/21 profits tax is waived subject to a ceiling of $10,000 per case.
(5) 100% of the 2019/20 profits tax is waived subject to a ceiling of $20,000 per case.
(6) 100% of the 2018/19 profits tax is waived subject to a ceiling of $20,000 per case.