HK, Macau Tax Pact In Force
The pact between Hong Kong and Macau to avoid double taxation has come into force after the completion of the relevant approval procedures, the Government announced today.
The Comprehensive Avoidance of Double Taxation Arrangement, signed in November 2019, will be in effect in Hong Kong in respect of taxes on income derived for any year of assessment starting on or after April 1, 2021.
Macau was Hong Kong's 19th largest trading partner in 2019.
The tax pact will bring about a greater degree of certainty on tax liabilities for those who engage in cross-boundary business activities. It will also help boost bilateral trade and investment activities.
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