Hongkong Company Formation

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

Year of Assessment Tax Rate
2008/09 onwards 16.5%
2003/04 to 2007/08 # 17.5%
2002/03 16%

# 75% of the 2007/08 profits tax is waived subject to a ceiling of $25,000 per case.

Tax Rates Applicable to Unincorporated Businesses

Year of Assessment Tax Rate
2008/09 onwards 15%
2004/05 to 2007/08 # 16%
2003/04 15.5%
2002/03 15%

# 75% of the 2007/08 profits tax is waived subject to a ceiling of $25,000 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

Year of Assessment Tax Rate Amount to be Retained
2008/09 onwards 15% 10% of gross amount payable
2004/05 to 2007/08 # 16% 10.67% of gross amount payable
2003/04 15.5% 10.33% of gross amount payable
2002/03 15% 10% of gross amount payable

 

Performance procured through a non-resident agent who is an individual person or a partnership

Year of Assessment Tax Rate Amount to be Retained
2008/09 onwards 15% 10% of gross amount payable
2004/05 to 2007/08 # 16% 10.67% of gross amount payable
2003/04 15.5% 10.33% of gross amount payable
2002/03 15% 10% of gross amount payable

 

Performance procured through a non-resident agent who is a corporate agent or a corporation

Year of Assessment Tax Rate Amount to be Retained
2008/09 onwards 16.5% 11% of gross amount payable
2003/04 to 2007/08 # 17.5% 11.67% of gross amount payable
2002/03 16% 10.67% of gross amount payable

# 75% of the 2007/08 profits tax is waived subject to a ceiling of $25,000 per case.

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