ASIAN REGULATORY ROUND UP – HONG KONG FORGES DOUBLE TAXATION TREATY WITH NEIGHBOUR MACAO
January 1st, 2020
HONG Kong has signed an avoidance of double taxation agreement with its neighbour Macao, designed to boost trade and investment in the Guangdong-Hong Kong-Macao Greater Bay Area of southern China. The deal will ensure that any Macao tax paid by Hong Kong residents earning income from Macao will be a tax credit in Hong Kong and vice versa for Macao residents. Also, profits earned by Hong Kong residents in Macao from cross-boundary shipping, air and land transport will not be taxed in Macao; and teachers or researchers employed in Hong Kong and who work at an ...
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