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December 9, 2004

Revenue
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HK, Denmark sign tax agreement
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stephen ip
Shipshape: Consul-General of the Royal Danish Consulate General in Hong Kong Soren Kragholm and Secretary for Economic Development & Labour Stephen Ip sign an Avoidance of Double Taxation Agreement on shipping income.
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Hong Kong and Denmark today signed an Avoidance of Double Taxation Agreement on shipping income.

 

The agreement covers income derived from shipping from the operation of ships in international traffic. Hong Kong and Danish shipowners will be relieved of the burden of double taxation.

 

Attending the signing ceremony today, Secretary for Economic Development & Labour Stephen Ip said the agreement will strengthen Hong Kong's status as the preferred international and regional logistics hub.

 

Hong Kong already has similar double taxation relief arrangements for shipping income with major trading partners, including Mainland China, the US, the UK, the Netherlands, New Zealand, the Republic of Korea, Germany, Singapore, Norway and Sri Lanka.

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