WebTax rates imposed on individuals are progressive based on their net chargeable income (i.e. assessable income after deductions and allowances) which starts at 2% and is capped at 17%; or 15% of net income (i.e. income after deductions only). Net Chargeable Income (in HKD currency) Tax rate. 1 – 50,000 HKD. 2%. Web17%. Three separate income taxes are levied in Hong Kong instead of a single unified income tax. The above rates are the applicable salaries tax rates for the period from 1 …
A 7-Minute Guide to Hong Kong Tax - osome.com
Oct 26, 2024 · WebFrom 150,000 to 200,000 HKD ($19,231 to $25,641): 14% More than 200.000 HKD ($25,641): 17% On the other hand, the flat rate for income tax is 15%. This means that, de facto, middle- and high-income earners will pay an … hippos bum
Economic & Financial Data for Hong Kong
WebJan 19, 2024 · The maximum tax payable is limited to the standard rate on a taxpayer’s from employment, minus allowable deductions. The standard rate is 15% as of March, 2024. The income tax rates from Hong Kong’s Inland Revenue Department are as follows: Income (HK$) Tax Rate (%) Tax Value (HK$) On the First. In general, a person’s income from employment, less allowable deductions and personal allowances, is chargeable to Hong Kong salaries tax at progressive rates ranging from 2% to 17% as follows: For 2024/23: The maximum tax for 2024/23, however, will be limited to tax at the standard rate (15%) on the … See more A person’s residence, domicile or citizenship is not relevant in determining liability to Hong Kong salaries tax under the domestic law. The … See more The source of income from an office (e.g. directors’ fees) is determined by the location at which the company paying the fees is centrally managed and controlled. The ‘60-day rule’ and … See more A person has Hong Kong-sourced employment income if the employment is a Hong Kong employment or in case the employment is a non … See more Pensions are, in practice, subject to Hong Kong salaries tax if the funds out of which the payment is made are managed and controlled in Hong … See more WebThere is a minor drawback to telephone and online banking in Hong Kong: Money transfers are not free of charge. Normally, you can only transfer money without paying fees if the recipient has an account with the same bank as the sender. You can expect for an interbank transfer to cost you about 200 HKD (25 USD). homes for sale in bronx ny