Hong Kong's top earner in 2008-09 paid HKD71m (USD9m) in salaries tax, the region's Inland Revenue Department has reported.
The top profits-tax earner paid HKD5.91bn (USD762m).
According to the department's figures, the amount of salaries tax paid by the top earner in 2008-09 was HKD6m (USD774,229) more than in 2007-08. The second top earner in 2008-09 paid HKD63m, (USD8m) HKD1m (USD129,035) more than the previous year, while the third top earner paid HKD47m (USD6m), HKD5m (USD64,151) less.
The amount of profits tax paid by the top 10 companies in 2008-09 ranged from HKD870m (USD112m) to HKD5.91bn (USD762m), higher than the range of HKD720m (USD92m) to HKD3.2bn (USD412m) recorded in 2007-08.
The tax paid in 2008-09 includes the final tax for 2007-08 and provisional tax for 2008-09. It is primarily computed by reference to the taxpayer's income and profits in 2007-08.
However, as the 2007-08 provisional tax paid in the previous year was applied in payment of the tax charged for the year, and individual taxpayers may have applied to hold over their provisional tax, the net amount of tax paid in 2008-09 cannot be used to project the amount earned by a taxpayer in 2007-08.
The amount of tax paid by a handful of taxpayers or companies does not necessarily reflect the overall revenue collection trend.
The department also said a few taxpayers were paying a particularly high amount of salaries tax because they were in receipt of income other than basic salaries. Bonuses, commissions, allowances and share option gains all formed part of their assessable income.
Profits tax is worked out from the assessable profits of each company.
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