The Hong Kong profits tax rates applicable to corporations are as follows:

Types of Tax Rates	Year of Assessment	Tax Rate
Corporation rate	2008/09 onwards	16.5%
Two-tiered rates	2018/19 onwards	Assessable profits up to HK$2,000,000	8.25%
		Any part of assessable profits over HK$2,000,000	16.5%

The profits tax rates applicable to unincorporated businesses are as follows:

Types of Tax Rates	Year of Assessment	Tax Rate
Standard rate	2008/09 onwards	15%
Two-tiered rates	2018/19 onwards	Assessable profits up to HK$2,000,000	7.5%
		Any part of assessable profits over HK$2,000,000	15%

Basically, all entities with profits chargeable to Profits Tax in Hong Kong would qualify for the two-tiered profits tax rates, except those entities with a connected entity which is nominated to be chargeable at the two-tiered rates. Further, corporations which has made an election under section 14B(2)(a) (qualifying professional reinsurance business and authorized captive insurance business), section 14D(5)(b) (qualifying corporate treasury centre), section 14H(4)(b) (qualifying aircraft lessor) or section 14J(5)(b) (qualifying aircraft leasing manager) also will not qualify for the two-tiered rates.

Special concessionary rate of 50% of normal profits tax rate will apply to the following:

a.	trading profits and interest income received or derived from “short/medium term debt instruments” (issued before 1 April 2018);
b.	profits of the offshore business of professional reinsurer, or authorized captive insurer (for the year of assessment 2013/14 onwards);
c.	qualifying profits of a qualifying corporate treasury centre (for the year of assessment 2016/17 onwards); and
d.	qualifying profits of a qualifying aircraft lessor or a qualifying aircraft leasing manager (for the year of assessment 2017/18 onwards).

- https://www.gov.hk/en/residents/taxes/taxfiling/taxrates/profitsrates.htm
- https://www.ird.gov.hk/eng/faq/2tr.htm
- https://www.ird.gov.hk/eng/tax/bus_pft.htm#a10