United States vs Hong Kong SAR

Federal corporate income tax: 21%. State CIT generally ranges from 1% to 10% (although some states do not impose CIT) and is deductible for federal CIT purposes.

Corporations: 8.25% on the first HKD 2 million of assessable profits and 16.5% on the remainder; unincorporated businesses: 7.5% on the first HKD 2 million and 15% on the remainder.

April 15 for calendar-year corporations (15th day of the 4th month after the tax year-end); a 6-month filing extension to October 15 is available. State income tax returns usually follow the federal due date, with a few exceptions.

The tax return forms are typically released on the first working day of April each year. The filing deadline is usually within one month from the day the forms are released. Certain companies (e.g., those with a fiscal year ending on December 31) may have an extended filing deadline, typically until August 15 of the year the forms are released, and in certain circumstances (e.g., electronic filing), extensions may be granted.

Tax must be fully paid by the original due date of the return (April 15 for calendar-year corporations); the final estimated instalment is due on the 15th day of the 12th month of the tax year.

For companies with a fiscal year ending on December 31st, the final tax payment for a specific tax year is typically due in November of the year when the tax return is filed.

Four equal instalments of estimated tax, due by the 15th day of the 4th, 6th, 9th and 12th months of the tax year (April 15, June 15, September 15 and December 15 for calendar-year corporations).

For companies with a fiscal year ending on December 31st, interim taxes for a specific tax year will be paid in two installments, typically due in November of the current year and January of the following year.

0/0/0

0/0/0

30/30/30

0/0/2.475-4.95

NA

NA

21% (aligned with the federal CIT rate for corporations)

N/A

22.69

14.28

7.03

2.01