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Publications and Press Releases :
Press Release
: News Archives
Hong Kong and Sri Lanka sign Avoidance of Double
Taxation Agreement
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The Secretary for Economic Development
and Labour, Mr Stephen Ip, today (March 26) signed an Avoidance
of Double Taxation Agreement (DTA) on shipping and air services
income on behalf of the Government of the Hong Kong Special Administrative
Region with the Government of the Democratic Socialist Republic
of Sri Lanka (Sri Lanka) at a ceremony held in Colombo, Sri Lanka.
Representing Sri Lanka at the signing ceremony was the Commissioner-General
of Inland Revenue, Mr Kandiah Suseelar.
"I am glad that the two governments have concluded this agreement
today. It covers income derived from the operation of both ships
and aircraft in international traffic. It will benefit Hong Kong
and Sri Lankan shipowners and airlines as they will be relieved
of the burden of double taxation. It also strengthens Hong Kong's
status as the preferred international and regional logistics hub,"
said Mr Ip.
"On the shipping side, Hong Kong already has similar double
taxation relief arrangements with major trading partners, including
Mainland China, the US, the UK, the Netherlands, New Zealand, the
Republic of Korea, Germany, Singapore and Norway."
"In respect of air services income, Hong Kong has also established
double taxation relief arrangements with major aviation partners,
including Mainland China, the UK, the Netherlands, and Canada,"
Mr Ip said.
Ends/Friday, March 26, 2004
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