WebMay 18, 2024 · Hong Kong uses a profits tax rate that is two-tiered. This means that different rates apply depending on how much money you make. Here are the rates: It’s not that the rate changes once you pass the HK$2 million threshold. The 16,5% rate only applies to the earnings above HK$2 million. The first HK$2 million are still taxed at 8,25%. Web(Note that in both cases, if two-tiered profits tax rates apply, the tax rate for corporations is 8.25% for the first HKD 2 million of assessable profits.) This is an anti-avoidance measure to prevent abusive use of the reduced 4.95% rate whereby a taxpayer may seek to obtain tax benefits by entering into arrangements with non-resident associates.

Tax Insights from Transfer Pricing Hong Kong - PwC

WebUnder the two-tiered profits tax rates regime, the first HKD $2 million of assessable profits will be taxed at half the current tax rate (that is, 8.25 percent for corporations and 7.5 percent for unincorporated entities). The remaining assessable profits will be taxed at the full tax rate of 16.5 percent/15 percent. WebApr 11, 2024 · Here’s how their proposal would play out for customers: Households earning less than $28,000 a year would pay a fixed charge of $15 a month on their electric bills in Edison and PG&E territories ... income protection products

LCQ18: Two-tiered profits tax rates regime - Gov

WebNew Zealand's Inland Revenue (IR) has just released its vehicle kilometre (km) rates for the 2024 income year, and it’s not good news, particularly for employers who will need to quickly update mileage reimbursement systems for the new rates. ... Tier Two rate: Tier One rate: Tier Two rate: Petrol or diesel: 82 cents: 28 cents: 79 cents: 27 ... WebUnder the two-tiered profits tax rates regime, the profits tax rate for the first $2 million of assessable profits will be lowered to 8.25% (half of the rate specified in Schedule 8 to the Inland Revenue Ordinance (IRO)) for corporations and 7.5% (half of the standard rate) for … Salaries tax - Employee share-based benefits: March 2008: 39. Profits tax - … Therefore, taxpayers are still required to pay their provisional tax on time despite the … WebProfits tax • On persons who carry on a trade, a business or a profession in HK • Has a HK source income from that trade, business or profession • Capital gains are excluded from profits tax • Corporate tax rate: 16.5%; tax rate of unincorporated business: 15% • Effective 1 April 2024, profits tax rate for the first $2M of profits ... income protection providers