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Hong Kong New High Income Earners Personal Income Tax Effective April 2024: Tax Rate at 15% for Below HKD 5 Million / $640,000 Earnings & Tax Rate at 16% for Above HKD 5 Million / $640,000 Earnings, Around 12,000 High Income Earners Will be Impacted Representing 0.6% of Hong Kong Taxpayers, Tax Increase to Generate Additional HKD 910 Million / $116 Million Revenue Yearly
16th March 2024 | Hong Kong
Hong Kong new high income earners personal income tax will be effective April 2024, with tax rate at 15% for equal to or below HKD 5 million ($640,000) earnings and tax rate at 16% for above HKD 5 million ($640,000) earnings. Around 12,000 Hong Kong high income earners will be impacted representing 0.6% of Hong Kong taxpayers. The high income earners tax increase is expected to generate additional HKD 910 million ($116 million) revenue yearly. Prior to the increase, the tax rate for high income earners is at a maximum of 15% tax rate.
“ Hong Kong New High Income Earners Personal Income Tax Effective April 2024: Tax Rate at 15% for Below HKD 5 Million / $640,000 Earnings & Tax Rate at 16% for Above HKD 5 Million / $640,000 Earnings, Around 12,000 High Income Earners Will be Impacted Representing 0.6% of Hong Kong Taxpayers, Tax Increase to Generate Additional HKD 910 Million / $116 Million Revenue Yearly “
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Hong Kong New High Income Earners Personal Income Tax Effective April 2024: Tax Rate at 15% for Below HKD 5 Million / $640,000 Earnings & Tax Rate at 16% for Above HKD 5 Million / $640,000 Earnings, Around 12,000 High Income Earners Will be Impacted Representing 0.6% of Hong Kong Taxpayers, Tax Increase to Generate Additional HKD 910 Million / $116 Million Revenue Yearly
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