Two-tier standard rate applies to high net income
In force
Taxation
From the 2024/25 year of assessment, the standard-rate calculation applies 15% to the first HK$5 million of net income and 16% to the balance. Salaries tax remains calculated at the lower of progressive rates on net chargeable income or the standard-rate method, subject to the official rules and deductions.
Who it affects
High-income Hong Kong salaries-tax payers.