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PRESS RELEASE

(Source : news.gov.hk)

Double taxation relief orders to be gazetted Friday

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Two orders will be gazetted on Friday (November 20) to give effect to the double taxation relief arrangements relating to income from aircraft operations as agreed between the Hong Kong SAR Government and Ethiopia and the Maldives respectively. The orders will be tabled at the Legislative Council next Wednesday (November 25) for negative vetting.

"Under the double taxation relief arrangements, tax exemption for income and profits derived from aircraft operations in international traffic is provided for the airlines of Hong Kong, Ethiopia and the Maldives. Aircraft operators of Hong Kong, Ethiopia and the Maldives will benefit from the relief of double taxation. The arrangements should help lower cost of operation, improve income and indirectly efficiency as well," a spokesperson for the Transport and Housing Bureau said.

"It is our policy to enter into double taxation relief arrangements relating to income from aircraft operations with our aviation partners," the spokesperson explained.

The orders were made under the Inland Revenue Ordinance by the Chief Executive in Council.

Ends/Wednesday, November 18, 2009
Issued at HKT 16:00

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