• News Update

Implementation of Two-Tiered Profits Tax Rate Regime

The Inland Revenue (Amendment) (No. 3) Ordinance 2018 (the Ordinance) was gazetted on 29 March 2018 to implement the two-tiered profits tax rates regime announced in the 2017 Policy Address.

The two-tiered profits tax rate regime will apply to both corporations and unincorporated business commencing from the year of assessment 2018/19.

Tax rate
Assessable profits Corporations Unincorporated businesses
First HKD 2 million 8.25% 7.5%
Over HKD 2 million 16.5% 15%

The objective of the regime is to lower the tax burden of small and medium enterprises (SMEs), the application of the two-tiered profits tax rates is limited to only one entity nominated by a ground of connected entities.

For details, please refer to the official website of the Hong Kong Inland Revenue Department.

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