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Company MPF and Property Tax in Hong Kong

Released Date: Mar 02,2022 Article Source: HUANZE

If the company is registered in Hong Kong, there will be MPF implications if it employs employees in Hong Kong. In addition, if the company has property in Hong Kong, there will be property tax implications. Here is Ringze to introduce MPF and property tax.

registerHong Kong companyIn addition, if the company owns property in Hong Kong, it will be subject to property tax. Here is Ringze to introduce MPF and property tax.

MPF, short for Mandatory Provident Fund, is a policy implemented by the Hong Kong Government that obliges all employees in Hong Kong to set up investment funds for retirement purposes. It is overseen by the Mandatory Provident Fund Schemes Authority, a public institution in Hong Kong.Hong Kong companyThe MPF is paid in increments based on an employee's monthly salary, which is less than that of an employee listed as a companyHKD7,100Only the employer pays the employee5%Pay; If the employee's salary is greater thanHKD7,100But less thanHKD30,000At this time both the employee and the employer are on the payroll5%Pay; If the employee's salary is greater thanHKD30,000, the employee and the employer contribute separatelyHKD1,500You can.

Property tax is a tax levied on owners of land or buildings in Hong Kong. That is, the income from the rental property minus the basic expenses multiplied by the taxable rate15%. It's worth noting ifHong Kong companyIf you have real estate to rent and the income has been included in the profits tax, you need to apply to the government for exemption of property tax. Because the tax rates of the two taxes are different, they cannot be directly offset.

Company MPF and Property Tax in Hong Kong

CycloseThe company is committed to providing domestic and foreign customers with corporate audit, tax declaration, registration, annual inspection, tax planning and other services in Hong Kong, Singapore, Dubai and other regions. Efficient, rigorous, intimate service has been favored by many private enterprises, listed companies and large state-owned enterprises.

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