A tax rate at 50% of the normal profits tax rate will be applied to trading profits and interest income received or derived from qualifying debt instruments issued in Hong Kong, and to offshore business of professional reinsurance companies.
All taxpayers are subject to the same corporation or unincorporated business tax rate irrespective of their residential status. However, any permanent or temporary resident of Hong Kong except a person under the age of 18 (unless both his parents have passed away) may obtain relief from the standard rate of tax on his profits and income by electing to be assessed under Personal Assessment. An election may offer relief where the tax computed under Personal Assessment is less than the aggregate amount of the tax charged separately under Profits Tax, Salaries Tax and Property Tax.
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