In the audit of Hong Kong companies, most Hong Kong companies do not involve rates tax. However, there is a rate tax in the Hong Kong tax law, which is similar to the property tax in the mainland. Today I would like to introduce to you the rates tax in Hong Kong.

Rates (Rate)j Under the Rating Ordinance (Laws of Hong Kong No116Chapter), which imposes taxes on owners and occupiers of property. It is a property tax levied by the Hong Kong government on real estate owners in Hong Kong, and its property tax is similar to the property tax in mainland China. However, there is no difference between rates and taxes for rental or owner-occupied properties.

A ratepayer is an owner and an occupier of a property in Hong Kong. All properties in Hong Kong are subject to rates assessment except those exempt from assessment. Property unit means land, building, structure, or part of a building or structure held or occupied as an individual or separate leasehold or holding unit, or under any charter.

In the Hong Kong companies we have audited, there are also clients paying rates tax. Only with a better understanding of the tax system in Hong Kong can we pay taxes reasonably and legally.

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