US Move Unlikely To Hit HK, Says Shippers' Council

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2020-08-20 HKT 18:34

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  Hong Kong Shippers' Council head, Willy Lin, says the suspension of the pact would affect only shippers which are incorporated in the US. Photo: RTHK

Willy Lin speaks to RTHK's Priscilla Ng

The chairman of the Hong Kong Shippers' Council, Willy Lin, has brushed aside concerns that the stoppage of the bilateral tax arrangement with the US will affect Hong Kong's reputation as a maritime hub.

Lin, a Member of Chinese People’s Political Consultative Committee of Jieyang, Guangdong, said Washington is essentially shooting itself in the foot with this so-called sanction.

"The new system means …[firms] who are incorporated in the US have to pay the US port tax and also the Hong Kong taxation. So it will bring more cost to US operators,” he said.

“It will affect less Hong Kong companies and other international companies.”

He told RTHK’s Priscilla Ng that the cancellation of the tax pact will not impact Hong Kong’s status as a key shipping hub.

Lin said some of the busiest ports in the world are now located on the mainland and the US companies operate though there is no double taxation deal between Washington and Beijing, he said.