Sept. 2011 - Update on the Status of Hong Kong Tax Treaties
Since the commencement of the Inland Revenue (Amendment) Ordinance 2010 which enables Hong Kong to adopt The Organisation for Economic Co-operation and Development (“OECD”) 2004 version of Exchange of Information (EoI) Article, Hong Kong has been working very hard to expand its treaty network
To date, Hong Kong has signed 21 comprehensive double taxation agreements (DTAs) with other jurisdictions.
These DTAs provide Hong Kong investors with a number of benefits, e.g. to avoid double taxation, grant reduction in withholding taxes on a reciprocal basis. DTAs set out the allocation of taxing rights between jurisdictions and help Hong Kong investors better assess their potential tax liabilities from cross-border economic activities, foster closer economic and trade links between places, and provide added incentives for companies in treaty countries to do business or invest in Hong Kong, and vice versa.
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