Hong Kong signed tax treaty with Romania
The Government of the Hong Kong Special Administrative Region signed an agreement on the avoidance of double taxation with Romania on November 18, 2015. Under the agreement, Romania's withholding tax rate on royalties, currently at 16 per cent, will
See MoreHong Kong-South Africa tax treaty entered into force
The agreement between Hong Kong and South Africa for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income has entered into force. The agreement was signed in October last year. It came into force on
See MoreHong Kong-Macao begins FTA Negotiations
Hong Kong has started a consultation on Free Trade Agreement on the areas to be covered in a proposed Closer Economic Partnership Arrangement (CEPA) trade treaty with Macao. At present, Hong Kong and Macao have each entered into a separate CEPA
See MoreHong Kong: Government committed to timely implementation of automatic exchange of tax information
In response to input from stakeholders the government will make changes to a legislative proposal to implement the new international standard on automatic exchange of financial account information in tax matters (AEOI). Based on valuable feedback
See MoreHong Kong-Italy income tax treaty enters into force
The income tax treaty between Hong Kong SAR and Italy entered into force on 10 August 2015. The treaty was signed on 14 January 2013. The agreement generally applies from 1 January 2016 for Italy and from 1 April 2016 for Hong
See MoreRussia: Authorization for signature to tax agreement with Hong Kong
The Government of Russia has authorized the Finance Ministry to sign the draft text of the tax agreement between Hong Kong and Russia and it was released on 6th August 2015 for public
See MoreHong Kong: Exemption for offshore funds
The Hong Kong government has Gazetted the Inland Revenue (Amendment) (No.2) Ordinance 2015, which seeks to extend the profits tax exemption for offshore funds to private equity funds. With the implementation of the Amendment Ordinance, transactions
See MoreHong Kong: Notes exchanged with Japan in relation to tax treaty in force
The agreement constituted by the exchange of notes between Hong Kong and Japan regarding the Exchange of Information Article of the Comprehensive Avoidance of Double Taxation Agreement between the two jurisdictions has entered into force on July 6,
See MoreDTA between Hong Kong and UAE ratified by Hong Kong
The Income Tax Treaty (2014) between Hong Kong and United Arab Emirates has been ratified by Hong Kong on 3rd July
See MoreHong Kong: Government Continues Anti-Tax Evasion Measures
The Hong Kong Monetary Authority (HKMA) and the relevant enforcement authorities will continue to monitor closely measures to combat money laundering and tax evasion, the Secretary for Financial Services and the Treasury, K C Chan has
See MoreHong Kong: Individual taxpayers urged to file return by 4 June 2015
Individual income taxpayers in Hong Kong have been urged to file their 2014/15 tax return by 4 June 2015. An extension is allowed for the sole owners of unincorporated businesses and the filing deadline for them is 4 August 2015. The IRD
See MoreHong Kong: Government launches consultation on automatic exchange of financial account information in tax matters (AEOI)
The Government launched a consultation exercise on 24 April 2015, to gauge views on proposals to apply, with adaptations for Hong Kong, the prevailing international standards on the automatic exchange of financial account information in tax matters
See MoreHong Kong: IRD Gazettes Inland Revenue (Amendment) (No. 2) Bill 2015
The Inland Revenue (Amendment) (No. 2) Bill 2015 was gazetted on 17 April, 2015. The Bill seeks to amend the Inland Revenue Ordinance (Cap. 112) to implement the concessionary revenue measures proposed in the 2015-16 Budget. These include: (a)
See MoreHong Kong and China signed fourth protocol to tax treaty
Hong Kong and China signed the Fourth Protocol to the Arrangement for the Avoidance of Double Taxation and Prevention of Fiscal Evasion with respect to Taxes on Income on April 1, 2015. According to the provision in the Fourth Protocol, the gains
See MoreHong Kong: Tax Measures Proposed in Budget 2015-2016
The Financial Secretary proposed a number of tax measures in his 2015-16 Budget speech on 25 February 2015. All of these measures require legislative amendments before implementation. Highlights of the measures are given below; Reducing profits tax,
See MoreHong Kong-Vietnam: Protocol To Tax Treaty Enters Into Force
The second protocol to the double taxation agreement between Hong Kong and Vietnam has entered into force, a government spokesman said on 23 February 2015. The second protocol was signed in January last year. It came into force on January 8, 2015,
See MoreHong Kong: IRD Releases Revised Forms To Apply For Resident Status For Tax Treaties
The Inland Revenue Board of Hong Kong on January 29 released revised forms for companies, partnership, trusts, and other entities to apply for a certificate of resident status for purposes of claiming tax treaty benefits. With effect from 1 February
See MoreHong Kong: Government Renews Anti-Money Laundering Guidelines
Hong Kong has gazetted an anti-money laundering amendment notice that will allow its financial institutions to continue to delegate customer due diligence (CDD) functions. The Anti-Money Laundering and Counter-Terrorist Financing (Financial
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