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PRESS RELEASE

(Source : news.gov.hk)

Double taxation relief order to be gazetted tomorrow

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An order will be gazetted tomorrow (May 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 Fiji. The order will be tabled at the Legislative Council next Wednesday (May 26) 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 and Fiji. Aircraft operators of Hong Kong and Fiji will benefit from the relief of double taxation. The arrangements should help lower costs 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 order was made under the Inland Revenue Ordinance by the Chief Executive in Council.

Ends/Wednesday, May 19, 2010
Issued at HKT 16:00

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