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HK and Denmark sign Avoidance of Double Taxation
Agreement
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The Secretary for Economic Development and Labour,
Mr Stephen Ip, today (December 9) signed an Avoidance of Double
Taxation Agreement on shipping income on behalf of the Government
of the Hong Kong Special Administrative Region with the Government
of the Kingdom of Denmark at a ceremony held in Hong Kong.
Representing Denmark at the signing ceremony was the Consul-General
of the Royal Danish Consulate General in Hong Kong, Mr Soren Kragholm.
"I am glad that the two governments have concluded this agreement
today. It covers income derived from shipping from the operation
of ships in international traffic, and will accordingly benefit
Hong Kong and Danish shipowners as they will be relieved of the
burden of double taxation. This agreement will also strengthen Hong
Kong's status as the preferred international and regional logistics
hub," Mr Ip said.
"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."
Ends/Thursday, December 9, 2004
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