India and Hong Kong sign Double Taxation Avoidance Agreement (DTAA)
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi, 19th March, 2018
PRESS RELEASE
On 19.03.2018, Government of India and the Hong Kong Special Administrative Region (HKSAR) of People’s Republic of China have signed an Agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to taxes on income.
In so far as India is concerned, the Central Government is authorized under Section 90 of the Income-tax Act, 1961 to enter into an Agreement with a foreign country or specified territory for avoidance of double taxation of income, for exchange of information for the prevention of evasion or avoidance of income tax chargeable under the Income-tax Act, 1961.
The Agreement will stimulate flow of investment, technology and personnel from India to HKSAR & vice versa, prevent double taxation and provide for exchange of information between the two Contracting Parties. It will improve transparency in tax matters and will help curb tax evasion and tax avoidance. The Agreement is on similar lines as entered into by India with other countries.
(Surabhi Ahluwalia)
Commissioner of Income Tax
(Media & Technical Policy)
Official Spokesperson, CBDT.
Only days on which actual services rendered by company to be considered in computing threshold for constitution of permanent establishment…
Depreciation on goodwill in the hands of amalgamated company upheld as Assessing Officer had taken a plausible view in line…
The ICAI has announced that provisions of the Income-tax Act, 2025 shall be applicable to CA exams conducted from 1st…
Addition u/s 68 deleted as there was no cash trail, rotation of funds, or incriminating evidences, no enquiry conducted into…
In case of re-allotment of flat by builder, stamp duty valuation would be with reference to date of booking of…
When information contained in loose papers not corroborated with assessee, there is absolutely no room for presumption that it belongs…