Uk Hk Double Taxation Agreement


In November 2010, the DBA Hong Kong/Luxembourg was updated to open the exchange of information to ensure that the agreement complies with international standards of the Organisation for Economic Co-operation and Development. Hong Kong tax profiles kpmg, which highlights cross-border issues of the business and investment tax. The guide contains sections on corporate tax, transfer pricing, indirect taxation, personal taxation, trade and customs. Updated in July 2018. In addition, there is a double taxation agreement between Hong Kong and Saudi Arabia, which is currently pending. There is also a Memorandum of Understanding with China, under which the agreement is in Hong Kong from 1 April 2011 and in the United Kingdom: in August 2006, the Chinese and Hong Kong governments signed an agreement to avoid double taxation, which aims to provide investors and taxpayers in both places with a guarantee on tax debt and to offer tax savings. Double taxation relief Double taxation information from the Internal Revenue Department of the Hong Kong Special Administrative Region government. Contains a list of comprehensive double taxation agreements concluded on the date of signing, effective entry and effective date. Additional information on taxation in that country may appear in general works that are not on this list. If you need help identifying available material, please contact the request team. In the case of wealthy individuals living abroad, a DBA could make some countries more advantageous to stay there. If the second country had entered into a double taxation agreement with the United Kingdom, the tax would only be levied on income from British operations. The remaining revenue would be protected from UK tax.

In addition, under the DBA, Hong Kong airlines flying to Brunei are taxed at the Hong Kong corporate tax rate (which is lower than Brunei`s). Profits from international shipping made by Hong Kong residents but made in Brunei, which are currently taxable in Brunei, will be tax-exempt under the agreement. We can provide current and historical tax rates, comparison tables and country surveys through our specialized tax databases. We have current key summaries and detailed analysis of the tax system in countries around the world on corporate taxation, individual taxation, business and investment. The double taxation convention can be complicated. Dual-residences must ensure that the amount of tax is paid, recovered or billed in each country.