Salaries Tax payable is calculated at progressive rates on your net chargeable income or at standard rate on your net income, whichever is lower.
Net Chargeable Income = Total Income - Deductions - Allowances
Net Income = Total Income - Deductions
A year of assessment runs from 1 April to 31 March of the following year.
Provisional Salaries Tax for a year is usually based on the income less the allowances of the preceding year.
Corporate Tax - Profits Tax
If you carry on any trade, profession or business in Hong Kong, you have to pay tax on your profits. Get more information about Profits Tax here, including the scope of charge, exemption and deductions.
