Gibraltar vs Hong Kong SAR

15% from 1 July 2024 (previously 12.5%). Utility and energy providers and corporations abusing a dominant position: 20%.

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.

CIT returns are due nine months after the date of the company's financial year end.

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 under the Inland Revenue Department's block extension scheme for companies with a tax representative, usually in mid-August of the year the forms are released (for accounting date code "D", 17 August 2026 for the 2025/26 returns), and in certain circumstances (e.g., electronic filing), extensions may be granted.

The final balance (being the actual tax liability less any payments made on account) is due by the date of filing the return (i.e. nine months after the date of the company's financial year end).

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.

Companies are required to make payments on account of future liabilities by 28 February and 30 September in each calendar year.

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.

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