Hongkong yesterday avoided double taxation against Japan's revenue and prevented it. tax evasion Sign an agreement. Finance Chen Jiaqiang, Secretary for affairs and the Treasury, signed the agreement on behalf of the government of the Hongkong Special Administrative Region in Hongkong. Kumamaru Yuuji, Consul General of Japan, signed on behalf of the country.

The agreement is the sixteenth comprehensive avoidance of Double Taxation Agreement (comprehensive agreement) signed by Hongkong. Prior to that, Hongkong has signed comprehensive agreements with Belgium, Thailand, mainland China, Luxemburg, Vietnam, Brunei, Holland, Indonesia, Hungary, Kuwait, Austria, the United Kingdom, Ireland, Liechtenstein and France.

The comprehensive agreement clarifies the right to tax and the passive income of both parties. tax rate Waiver. This will help. Investment They are more effective in assessing the potential tax burden of their cross-border economic activities, strengthening their economic and trade links, and further encouraging Japanese and Hongkong companies to invest or invest in each other.

The comprehensive agreement between Hongkong and Japan will take effect after the relevant approval procedures have been completed by both parties. As far as Hongkong is concerned, the chief executive in Council shall make an order on the agreement under the Inland Revenue Ordinance, which shall be examined and approved by the Legislative Council.