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.
|
