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%

Two-tiered rates

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 2019-20 Budget Proposal and the support measures subsequently announced, 100% of the 2018/19 profits tax is waived subject to a ceiling of $20,000 per case. (Legislative amendments are required for implementing the proposed measures.)

(2) 75% of the 2017/18 profits tax is waived subject to a ceiling of $30,000 per case.

(3) 75% of the 2016/17 profits tax is waived subject to a ceiling of $20,000 per case.

(4) 75% of the 2015/16 profits tax is waived subject to a ceiling of $20,000 per case.

(5) 75% of the 2014/15 profits tax is waived subject to a ceiling of $20,000 per case.

(6) 75% of the 2013/14 profits tax is waived subject to a ceiling of $10,000 per case.

Tax Rates Applicable to Unincorporated Businesses

Standard rate

Year of Assessment Tax Rate
2008/09 onwards (Note) 15%

Two-tiered rates

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 2019-20 Budget Proposal and the support measures subsequently announced, 100% of the 2018/19 profits tax is waived subject to a ceiling of $20,000 per case. (Legislative amendments are required for implementing the proposed measures.)

(2) 75% of the 2017/18 profits tax is waived subject to a ceiling of $30,000 per case.

(3) 75% of the 2016/17 profits tax is waived subject to a ceiling of $20,000 per case.

(4) 75% of the 2015/16 profits tax is waived subject to a ceiling of $20,000 per case.

(5) 75% of the 2014/15 profits tax is waived subject to a ceiling of $20,000 per case.

(6) 75% of the 2013/14 profits tax is waived subject to a ceiling of $10,000 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

Two-tiered rates

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

Two-tiered rates

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

Two-tiered rates

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 2019-20 Budget Proposal and the support measures subsequently announced, 100% of the 2018/19 profits tax is waived subject to a ceiling of $20,000 per case. (Legislative amendments are required for implementing the proposed measures.)

(2) 75% of the 2017/18 profits tax is waived subject to a ceiling of $30,000 per case.

(3) 75% of the 2016/17 profits tax is waived subject to a ceiling of $20,000 per case.

(4) 75% of the 2015/16 profits tax is waived subject to a ceiling of $20,000 per case.

(5) 75% of the 2014/15 profits tax is waived subject to a ceiling of $20,000 per case.

(6) 75% of the 2013/14 profits tax is waived subject to a ceiling of $10,000 per case.

Last revision date: August 2019
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