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Double Taxation Relief and Exchange of Information Arrangements
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Announcements (Latest)
Tax agreements between Hong Kong and six Nordic jurisdictions in force (2 March 2016)
Hong Kong and Russia enter into tax pact (18 January 2016)
Hong Kong signed on January 18 an agreement with Russia for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. Please click here for the details.
The Fourth Protocol to the Arrangement between the Mainland of China and the Hong Kong Special Administrative Region for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income has come into effect on 29 December 2015 (11 January 2016)
The Fourth Protocol to the Arrangement between the Mainland of China and the Hong Kong Special Administrative Region for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income (“the Fourth Protocol”) was formally signed on 1 April 2015.
According to Article 6 of the Fourth Protocol, the Fourth Protocol shall, upon the written notifications by both Sides of the completion of their respective required approval procedures, enter into force on the date of the later of these notifications.
For the purpose of giving effect to the Fourth Protocol, an Order was made by the Chief Executive in Council on 22 September 2015, under section 49(1A) of the Inland Revenue Ordinance. The Order was published in the Gazette as Legal Notice 189 of 2015. The Order was laid before the Legislative Council for negative vetting on 14 October 2015. The vetting period expired on 11 November 2015 and no resolution was made by the Legislative Council to amend the whole or any part of the Order. Thereafter, the Order came into operation on 4 December 2015. Hong Kong sent a notification of the completion of the internal approval procedures to the Mainland on 4 December 2015, and received a notification dated 29 December 2015 from the Mainland confirming the completion of their requisite approval procedures. The Forth Protocol has therefore become effective on 29 December 2015.
Inland Revenue (Amendment) Bill 2016 gazetted (8 January 2016)
The Agreement between the Government of the Hong Kong Special Administrative Region of the People's Republic of China and the Government of the United Arab Emirates for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income has come into effect on 10 December 2015 (18 December 2015)
The Agreement between the Government of the Hong Kong Special Administrative Region of the People's Republic of China and the Government of the United Arab Emirates for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income ("the Agreement") was formally signed in December 2014.
According to Article 27 of the Agreement, the Agreement shall, upon the written notifications by both Sides of the completion of their respective required internal procedures, enter into force on the date of the later of these notifications.
For the purpose of giving effect to the Agreement, an Order was made by the Chief Executive in Council on 12 May 2015, under section 49(1A) of the Inland Revenue Ordinance. The Order was published in the Gazette as Legal Notice 87 of 2015. The Order was laid before the Legislative Council for negative vetting on 20 May 2015. The vetting period expired on 17 June 2015 and no resolution was made by the Legislative Council to amend the whole or any part of the Order. Thereafter, the Order came into operation on 3 July 2015. Hong Kong sent a notification of the completion of the internal procedures to United Arab Emirates on 6 July 2015. United Arab Emirates sent Hong Kong a notification dated 10 December 2015 confirming the completion of their requisite internal procedures. The Agreement has therefore become effective on 10 December 2015 and shall have effect in Hong Kong, according to Article 27 of the Agreement, for any year of assessment beginning on or after 1 April 2016.
Hong Kong, Romania enter into tax pact (18 November 2015)
Hong Kong signed on November 18 an agreement with Romania for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. Please click here for the details.
The Agreement between the Government of the Hong Kong Special Administrative Region of the People's Republic of China and the Government of the Republic of South Africa for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income has come into effect on 20 October 2015 (5 November 2015)
The Agreement between the Government of the Hong Kong Special Administrative Region of the People's Republic of China and the Government of the Republic of South Africa for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income ("the Agreement") was formally signed in October 2014.
According to Article 27 of the Agreement, the Agreement shall, upon the written notifications by both Sides of the completion of their respective required internal procedures, enter into force on the date of the later of these notifications.
For the purpose of giving effect to the Agreement, an Order was made by the Chief Executive in Council on 12 May 2015, under section 49(1A) of the Inland Revenue Ordinance. The Order was published in the Gazette as Legal Notice 86 of 2015. The Order was laid before the Legislative Council for negative vetting on 20 May 2015. The vetting period expired on 17 June 2015 and no resolution was made by the Legislative Council to amend the whole or any part of the Order. Thereafter, the Order came into operation on 3 July 2015. Hong Kong sent a notification of the completion of the internal procedures to South Africa on 6 July 2015. South Africa sent Hong Kong a notification dated 20 October 2015 confirming the completion of their requisite internal procedures. The Agreement has therefore become effective on 20 October 2015 and shall have effect in Hong Kong, according to Article 27 of the Agreement, for any year of assessment beginning on or after 1 April 2016.
Government committed to timely implementation of AEOI in Hong Kong (12 October 2015)
Orders on tax information exchange agreements with Nordic jurisdictions and protocol on avoidance of double taxation arrangement with the Mainland gazetted (2 October 2015)
The Agreement between the Government of the Hong Kong Special Administrative Region of the People's Republic of China and the Government of the Italian Republic for the Avoidance of Double Taxation with respect to Taxes on Income and the Prevention of Fiscal Evasion has come into effect on 10 August 2015 (14 August 2015)
The Agreement between the Government of the Hong Kong Special Administrative Region of the People's Republic of China and the Government of the Italian Republic for the Avoidance of Double Taxation with respect to Taxes on Income and the Prevention of Fiscal Evasion ("the Agreement") was formally signed on 14 January 2013.
According to Article 28 of the Agreement, the Agreement shall, upon the written notifications by both Sides of the completion of their respective required internal procedures, enter into force on the date of receipt of the later of these notifications.
For the purpose of giving effect to the Agreement, an Order was made by the Chief Executive in Council on 24 September 2013, under section 49(1A) of the Inland Revenue Ordinance. The Order was published in the Gazette as Legal Notice 149 of 2013. The Order was laid before the Legislative Council for negative vetting on 9 October 2013. The vetting period expired on 6 November 2013 and no resolution was made by the Legislative Council to amend the whole or any part of the Order. Thereafter, the Order came into operation on 29 November 2013. Hong Kong sent a notification of the completion of the internal procedures to Italy on 5 December 2013. Italy sent Hong Kong a notification dated 10 August 2015 confirming the completion of their requisite internal procedures. The Agreement has therefore become effective on 10 August 2015 and shall have effect in Hong Kong, according to Article 28 of the Agreement, for any year of assessment beginning on or after 1 April 2016.
HK, Japan notes exchanged in relation to tax treaty in force (6 July 2015)
Three orders on avoidance of double taxation agreements gazetted (15 May 2015)
The Government launched a consultation on automatic exchange of financial account information in tax matters (AEOI) (24 April 2015)
The Government launched on 24 April 2015 a consultation exercise on the proposed model for implementing automatic exchange of financial account information in tax matters (AEOI) in Hong Kong. The consultation will end on 30 June 2015. Pleas click here for the details.
Mainland and HKSAR sign Fourth Protocol to Arrangement for Avoidance of Double Taxation (1 April 2015)
Hong Kong signed on 1 April the Fourth Protocol (Chinese version only) to Arrangement for Avoidance of Double Taxation with the Mainland. Please click here for the details.