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MPF System

Tax Concessions

Employee


Employees can claim tax deductions for their employee’s mandatory contributions made to an MPF scheme, subject to the maximum amount as follows:

(i)$15,000 for the year of assessment 2013-14;
(ii)$17,500 for the year of assessment 2014-15; and
(iii)$18,000 for the year of assessment 2015-16 and each subsequent year of assessment.

Any voluntary contributions made by employees are not tax deductible.

Employer


Employers can claim tax deductions for the mandatory and voluntary contributions made for their employees, to the extent that they do not exceed 15% of the employee’s total emoluments.

Self-employed Person


Self-employed persons can claim mandatory contributions which they have made for themselves to an MPF scheme as allowable business expenses for Hong Kong Profits Tax purposes. The maximum amount that can be claimed for deduction is as follows:

(i)$15,000 for the year of assessment 2013-14;
(ii)$17,500 for the year of assessment 2014-15; and
(iii)$18,000 for the year of assessment 2015-16 and each subsequent year of assessment.

Any voluntary contributions made by self-employed persons are not tax deductible.

Last Revision Date: 17/07/2015