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Press Release
: News Archives
Hong Kong and Norway sign Avoidance of Double
Taxation Agreement
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The Secretary for Economic Development and Labour,
Mr Stephen Ip, today (October 16) signed an Avoidance of Double
Taxation Agreement (DTA) on shipping on behalf of the Government
of the Hong Kong Special Administrative Region with the Government
of the Kingdom of Norway.
Representing the Kingdom of Norway at the signing ceremony was the
State Secretary to the Ministry of Trade and Industry, Ms Helle
Hammer.
"I am glad that the two governments have concluded this agreement
today. The agreement is beneficial to both Hong Kong and Norway
shipowners as it exempts Hong Kong shipowners from paying tax levied
on cargo loaded in Norway, and vice versa. It also strengthens Hong
Kong's status as an international shipping centre," said Mr
Ip at the signing ceremony.
"Hong Kong already has similar double taxation relief arrangements
on shipping income with major trading partners, including Mainland
China, the U.S., the U.K., the Netherlands, New Zealand, the Republic
of Korea and Germany.
"Similar agreements are under discussion with other tax administrations,
including Greece, India and Belgium," Mr Ip added.
Ends/Thursday, October 16, 2003
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