Two-tier salaries-tax structure on top of standard rate from 2024–25

Budget 2024–25 introduced a two-tier standard-rate structure for salaries tax on net income above HKD 5 million: 15% on the first HKD 5 million, 16% above. The progressive-rates option remains for lower incomes. The change marginally raises tax for top earners (top effective rate ~16% rather than the old flat 15%) while maintaining Hong Kong's globally-low personal-tax position.