Hong Kong and India have signed an agreement for the avoidance of double taxation and the prevention of fiscal evasion. the document will not only help reduce the burden of double taxation for legal entities and individuals that derive income from both jurisdictions but will also strengthen the economic ties between the signatory states.

Our team of Hong Kong company formation agents can help you with complete information on how this treaty can influence taxation for an Indian company in Hong Kong.

Taxes covered by the India-Hong Kong DTA

The double tax treaty (DTA) between Hong Kong and India applies on taxes on income and property levied by the two jurisdictions. For Hong Kong, the taxes to which the treaty applies are the profits tax, the salaries tax, the property tax. The treaty also applies to the taxation of dividend income. Because Hong Kong does not impose any withholding tax on dividends, this type of income would only be taxed in the country of residence for the company paying the dividends. In case of India, the new DTA can provide for a reduced rate.

The types of income for which the treaty applies does not only include dividend income but also interest, royalties, employment-related income, director’s fees and business profits, shipping or airline profits, income from immovable property, pensions. Investors from India who open a Hong Kong company can find certain advantages in the provisions of this treaty.

Hong Kong – India relations

The double tax treaty between India and Hong Kong was signed by the Hong Kong Finance Secretary and the Indian Ambassador to China. The new agreement will not only serve as an instrument to allow for double taxation relief, it also allows for an exchange of information and overall will help improve transparency in taxation matters. Tax evasion and tax avoidance will be reduced, owing to this treaty.

Hong Kong has signed a number of agreements for the avoidance of double taxation. If you would like to receive a complete list or find out more information about how double taxation is prevented, please contact our Hong Kong company formation agents.

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