Page 49 - OHKF_Biotech_EN

Table 4 Comparison of tax rates and concessions in different places

Policy Hong Kong Shenzhen Singapore Australia
First HKD 2 millions:
8.25%;
Profits tax rate 25% 17% 30%
Above 2 millions:
16.5%
Different tax concessions, such as:
Manufacturers or providers of
products and service with high
technological content: 5–15
Corporate tax NIL NIL years tax exemption. NIL
concession
Enterprises with headquarters
in Singapore: Tax exemption
or preferential tariff rate,
depending on their contributions
to the local economy.
Concessions for R&D
from Central Tax refund: 43.5% or
Government: additional 38.5% of R&D costs,
deduction of 75%, on top depending on the
First HKD 2 millions: of other tax deductions. annual revenue of
R&D tax 300% tax deduction; Concessions for eligible enterprise.
concession Above 2 millions: technology transfer 250% tax deduction 30% tax refund for
200% Tax deduction by high-technological R&D cost amounting to
enterprises: Not more AUD 0.1 billion.
than RMB 5 millions: 100% R&D cost must be at
tax deduction; Balance: least AUD 20,000.
50% tax deduction.

Note: Only profits tax rates applicable to general enterprises are listed. The lower tax rates various governments designated for selected categories of enterprises are not included here.
Source: PricewaterhouseCoopers
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