Estimate one year of US dividend withholding on a holding, in US dollars. Hong Kong is the default: no income tax treaty, so the statutory rate is 30%. You can switch to other residences and compare a US-domiciled ETF with an Ireland-domiciled UCITS.
For the background, read why US dividends are withheld at 30%.
Estimate only, not tax, legal, or investment advice. Read the disclaimer. Treaty eligibility depends on your circumstances.
Withholding is a percentage of the gross dividend. There is no allowance. The rate depends on residence and on whether Form W-8BEN is on file.
Market value = share count × price per share
Gross dividend = market value × dividend yield
Gross dividend = share count × annual dividend per share
US tax withheld = gross dividend × withholding rate
Net dividend = gross dividend − US tax withheld
Effective yield = net dividend ÷ market value
Annual drag (USD) = US tax withheld
Annual drag (HKD) = US tax withheld × HKD per USD
Every figure on this page uses the assumptions below. Rates were checked on 3 October 2026.
General dividend rate from IRS Table 1 (Rev. May 2023), or the 30% statutory rate where the IRS A-to-Z treaty list has no entry. Checked 3 October 2026.
| Residence | Rate with Form W-8BEN | Basis |
|---|---|---|
| Hong Kong | 30% | No US income tax treaty. Statutory rate. |
| Singapore | 30% | No US income tax treaty. Statutory rate. |
| Taiwan | 30% | No US income tax treaty. Statutory rate. |
| Malaysia | 30% | No US income tax treaty. Statutory rate. |
| United Kingdom | 15% | IRS Table 1 general dividend rate, if you qualify. |
| Canada | 15% | IRS Table 1 general dividend rate, if you qualify. |
| Australia | 15% | IRS Table 1 general dividend rate, if you qualify. |
| Ireland | 15% | IRS Table 1 general dividend rate, if you qualify. |
| Germany | 15% | IRS Table 1 general dividend rate, if you qualify. |
| France | 15% | IRS Table 1 general dividend rate, if you qualify. |
| Netherlands | 15% | IRS Table 1 general dividend rate, if you qualify. |
| Switzerland | 15% | IRS Table 1 general dividend rate, if you qualify. |
| New Zealand | 15% | IRS Table 1 general dividend rate, if you qualify. |
| South Korea | 15% | IRS Table 1 general dividend rate, if you qualify. |
| Italy | 15% | IRS Table 1 general dividend rate, if you qualify. |
| Spain | 15% | IRS Table 1 general dividend rate, if you qualify. |
| Sweden | 15% | IRS Table 1 general dividend rate, if you qualify. |
| Japan | 10% | IRS Table 1 general dividend rate, if you qualify. |
| Mainland China | 10% | IRS Table 1 general dividend rate, if you qualify. |
| Mexico | 10% | IRS Table 1 general dividend rate, if you qualify. |
| India | 25% | IRS Table 1 general dividend rate, if you qualify. |
A Hong Kong resident with Form W-8BEN on file, a holding of US$10,000.00, and a dividend yield of 3% has a gross dividend of US$300.00. US tax withheld is US$90.00. The net dividend is US$210.00. The effective yield is 2.10%. Annual drag is US$90.00, or HK$702.00 at 7.80 HKD per USD.
The same holding for a United Kingdom resident with Form W-8BEN on file is withheld at 15%: US$45.00. The Ireland-domiciled UCITS column on that same gross dividend withholds US$45.00 at fund level.
| Case | Rate | Withheld | Net dividend | Effective yield |
|---|---|---|---|---|
| Hong Kong, W-8BEN on file | 30% | US$90.00 | US$210.00 | 2.10% |
| United Kingdom, W-8BEN on file | 15% | US$45.00 | US$255.00 | 2.55% |
| Ireland-domiciled UCITS, fund level | 15% | US$45.00 | US$255.00 | 2.55% |
For an individual investor, a US dividend is not salaries tax and it is not property tax. The foreign-sourced income exemption regime does not cover a natural person. This calculator therefore stops at the US withholding. It does not add a second Hong Kong tax.
That is not a ruling on profits tax. If you carry on a business of dealing in securities, ask the Inland Revenue Department or a licensed adviser. Nothing here is tax advice.
The United States withholds 30% of the gross amount of US-source dividends paid to a non-US person, unless a tax treaty sets a lower rate. Hong Kong has no US income tax treaty, so a Hong Kong resident generally stays at 30%.
No. Form W-8BEN certifies that you are not a US person and is how a treaty resident claims a lower rate. Hong Kong has no treaty, so the dividend rate stays at 30%. Without the form, a broker may withhold at 30% or apply backup withholding at 24%.
A US-domiciled ETF pays you a US-source dividend, so a Hong Kong investor is withheld at 30%. An Ireland-domiciled fund receives the US dividends itself. IRS Table 1 shows a 15% general dividend rate for Ireland, if the fund qualifies. The comparison ignores fees, tracking difference, and US estate tax, and it is not a fund recommendation.
Not for a typical individual investor. Salaries tax covers employment income and property tax covers rent. Dividends are neither, and a natural person is outside the foreign-sourced income exemption regime. A person carrying on a business of dealing in securities can be in a different position.
Checked on 3 October 2026, except where a source shows its own review date.