PRESS RELEASE

Hong Kong, Liechtenstein sign tax pact

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Hong Kong signed today (August 12, Liechtenstein time) its 14th comprehensive agreement for the avoidance of double taxation (CDTA). The Special Representative for Hong Kong Economic and Trade Affairs to the European Union, Miss Mary Chow, signed the agreement on behalf of the Hong Kong Special Administrative Region Government. The Liechtenstein Prime Minister, Dr Klaus Tschutscher, signed on behalf of his government.

The Hong Kong/Liechtenstein CDTA adopts the latest Organisation for Economic Co-operation and Development standard on exchange of information. The CDTA will come into force after the completion of ratification procedures on both sides. In the case of Hong Kong, an order to be made by the Chief Executive in Council under the Inland Revenue Ordinance is required. The order is subject to negative vetting by the Legislative Council.

Details of the Hong Kong/Liechtenstein CDTA can be found on the Inland Revenue Department's website (www.ird.gov.hk/eng/pdf/Agreement_Liechtenstein_HongKong.pdf).

Ends/Thursday, August 12, 2010
Issued at HKT 18:21

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