Two-tiered profit tax rates，利得税两级制税率。利得税两级制是香港政府施行的利得税征税体制。《2018年税务（修订）（第3号）条例》（《修订条例》）于三月二十九日刊宪，以实施二零一七年《施政报告》中宣布的利得税两级制，且自2018年4月1日起正式实施。

根据利得税两级制，法团首200万元(港币，下同)的利得税税率将降至8.25%，其后的利润则继续按16.5%征税。至于独资或合伙业务的非法团业务，两级的利得税税率相应为7.5%及15%。纳税法团或非法团业务每年分别最多可节省16.5万元和15万元税款。

以下为其对应的英文解释，供题主参考：Under the two-tiered profits tax rates regime, the profits tax rate for the first $2 million of assessable profits will be lowered to 8.25% (half of the rate specified in Schedule 8 to the Inland Revenue Ordinance (IRO)) for corporations and 7.5% (half of the standard rate) for unincorporated businesses.

利得税两级制会惠及有应评税利润的合资格企业，不论其规模。为确保受惠企业以中小企为主，有关连企业只可提名一家企业受惠。

以下为私募备忘录中税收影响部分出现的相关示例：

For investors carrying on business in Hong Kong and who also invest in securities for trading purpose (e.g. dealers in securities, financial institutions, insurance companies), such gains may be considered to be part of the investors' normal business profits and in such circumstances may be subject to Hong Kong profits tax (which is currently charged at the rate of 16.5% in the case of corporations, and 15% in the case of unincorporated businesses or individuals, and may be adjusted if the two-tiered profits tax rates as mentioned above apply) if the gains in question arise in or are derived from Hong Kong (but note the Two-Tier Profits Tax Ordinance referred to above). Investors should seek their own independent Hong Kong tax advice on this issue.

对于在香港经营业务并出于交易目的投资证券的投资者(如证券交易商、金融机构、保险公司)而言，该等收益可被视为投资者正常业务利润的一部分，在此情况下，如有关收益来自香港(但请注意上述两级利得税条例)，则可能需要缴纳香港利得税(目前对公司征收16.5%的利得税，对非法人企业或个人征收15%的利得税，如上述两级利得税税率适用，则可能会调整税率)。投资者应就此问题寻求自己独立的香港税务建议。