Hong Kong inks tax pact with Italy, Guernsey, Qatar

To avoid double taxation.

According to a report, three orders avoidance of double taxation with Italy, Guernsey and Qatar were gazetted today.

The agreements, made under the Inland Revenue Ordinance, will ensure that investors do not pay tax twice on a single source of income, bringing businesses more certainty regarding tax liabilities.

The orders will be tabled at the Legislative Council on October 9 for negative vetting, and take effect after Hong Kong and its treaty partners complete ratification procedures.

Hong Kong signed the agreements with Italy in January, with Guernsey in April, and with Qatar in May.