HK, Mainland Tax Pact Takes Effect
The Fifth Protocol to the Comprehensive Avoidance of Double Taxation Arrangement between the Mainland & Hong Kong has come into force, the Government announced today.
The fifth protocol to the arrangement was signed in July.
It incorporates into the arrangement a new article to provide tax relief to eligible Hong Kong and Mainland teachers and researchers working on the other side, as well as measures to prevent tax treaty abuse to ensure the arrangement follows the latest international tax standard.
The protocol came into effect on December 6 after the completion of approval procedures on both sides.
It will apply in Hong Kong to income derived in the years of assessment from April 1 next year.
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