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Property Tax
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Property
Tax is imposed on the owners of land and buildings in Hong Kong for amounts
earned from renting land and buildings. Property occupied as a private residence
is exempt from Property Tax. Property occupied or used by a taxpayer for
business purposes that generates income subject to Profits Tax is also exempted.
Property Tax is levied on net assessable value (80% of rental income
after deducting rates paid by owner) on land and buildings at the standard rate
of 16%.
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