Orders on Comprehensive Avoidance of Double Taxation Agreements with India and Finland gazetted

     Two orders made by the Chief Executive in Council under the Inland Revenue Ordinance (Cap. 112) to implement the Comprehensive Avoidance of Double Taxation Agreements (CDTAs) with India and Finland will be gazetted on September 14.

     "The CDTAs ensure that investors will not have to pay tax twice on a single source of income. The CDTAs will bring tax savings and a greater certainty on taxation liabilities for the residents of the treaty partners when they engage in cross-border trade and investment activities," a Government spokesman said.

     Highlights of the CDTAs with India and Finland are set out in the Annex.

     The two orders will be tabled at the Legislative Council on October 10 for negative vetting. The CDTAs will enter into force after both Hong Kong and the treaty partners have completed their ratification procedures.

     Hong Kong signed the CDTAs with India and Finland in March and May 2018 respectively.