Under Article 151 of the Basic Law, Hong Kong is free to negotiate its own double taxation conventions independently of mainland China (i.e..dem the rest of the People`s Republic of China), using the acronym Hong Kong, China. The territory cannot resort to double taxation agreements that China can enter into, as these treaties only mention taxes on the continent. Mainland China will also not impose double taxation conventions on the territory, since under Articles 106 to 108 of Hong Kong`s Basic Law, it guaranteed the right to maintain an independent tax system without continental interference until 2047. In November 2010, the DBA Hong Kong/Luxembourg was updated to open the exchange of information to ensure that the agreement complies with international standards of the Organisation for Economic Co-operation and Development. In addition, under the DBA, Hong Kong airlines flying to Brunei are taxed at the Hong Kong corporate tax rate (which is lower than Brunei`s). Profits from international shipping made by Hong Kong residents but made in Brunei, which are currently taxable in Brunei, will be tax-exempt under the agreement. In June 2001, Hong Kong concluded a limited maritime traffic agreement with the United Kingdom. The agreement is limited to revenues from international maritime traffic and provides that profits made by a UK company or SAR as a result of such transactions are exempt from the territory of the other party. The provisions of the agreement, which come into force on 3 May 2001, apply to corporation tax in the United Kingdom from 1 April 2002 and from 6 April 2002, apply to income and capital gains tax.
It applied to the RAD as of April 1, 2002. The agreement was also the first Hong Kong DBA to be signed using the Organisation for Economic Co-operation and Development standard for the exchange of tax information. China The following information details some important agreements on double tax evasion signed by SADA Hong Kong. Below is a list of the countries with which South Africa has signed a double tax agreement. All the information listed below is correct as of January 1, 2013. The agreement to avoid double taxation of income and the prevention of tax evasion broadens the scope of the original agreement on the benefits and income of human services, which both parties signed in 1998. Global agreements to avoid double taxation have been concluded between Hong Kong and the following countries (with the “in-force” data): when a company is established in both parties, its residence is effectively managed within the meaning of the tax treaty. If in doubt, the location of its effective management is determined by the competent authorities of both parties. In the absence of an agreement, the company cannot claim the benefits of the contract, except for the methods of eliminating the double taxation provided for in Article 21, 22 of non-discrimination and 23 procedures of mutual agreement. The agreement applies in the United Kingdom from 1 April 2011 for corporation tax and from 6 April 2011 for income and capital gains tax.