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. Under Article 151 of the Basic Law, Hong Kong is free to negotiate its own double taxation conventions independently of mainland China (i.e..dem the rest of the People`s Republic of China), using the acronym Hong Kong, China. The territory cannot resort to double taxation agreements that China can enter into, as these treaties only mention taxes on the continent. Mainland China will also not impose double taxation conventions on the territory, since under Articles 106 to 108 of Hong Kong`s Basic Law, it guaranteed the right to maintain an independent tax system without continental interference until 2047. Under the Convention, Switzerland is exempt from double taxation. In addition, the withholding rate at source has been reduced to 10%. The National Financial Service accepts applications for bilateral or multilateral APA and requires annual reports. They offer not only protection against the risk of double taxation, but also greater security in terms of tax liability. With regard to the new agreement, Donald Tsang announced: 4. The competent authorities of the parties are working to resolve by mutual agreement any difficulty or doubt as to the interpretation or application of this agreement. The agreement was also the first Hong Kong DBA to be signed using the Organisation for Economic Co-operation and Development standard for the exchange of tax information.
China “The conclusion of a comprehensive double taxation agreement with the mainland, as well as the closer economic partnership agreement on the mainland and in Hong Kong, will further encourage international investors to enter the continental market via Hong Kong. In addition, cross-border financing agreements and the transfer of technical know-how and patents between the two sites will be improved. These will help stimulate Hong Kong`s economy, strengthen our competitiveness and attract foreign capital. Global agreements have been concluded between Hong Kong and the following countries (with “strong” data to avoid double taxation: if you feel that double taxation guaranteed by a double taxation contract has not granted you the reasonable exemption from double taxation, you can order the assistance of the Hong Kong treaty authority. Hong Kong`s competent authority is the Commissioner for Domestic Revenues. This process is also called the mutual agreement procedure. The Hong Kong competent authority is responsible for the following issues: 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 that, in most Hong Kong contracts, double taxation is abolished by the granting of a tax credit. Five of them. For the purposes of Article XXII, paragraph 3 (consultation), of the General Agreement on Trade in Services, which is part of the Marrakesh Agreement establishing the World Trade Organization concluded in Marrakech on 15 April 1994, the parties agree that, notwithstanding this paragraph, any dispute between them over whether a measure falls within the scope of that agreement can be submitted to the Council for Trade in Services.
, in accordance with this paragraph, only with the agreement of both parties.