Hong Kong’s Secretary for Economic Development and Labour, Stephen Ip, yesterday signed an Avoidance of Double Taxation Agreement on shipping income on behalf of the SAR with the Government of Denmark.
Representing Denmark at the signing ceremony was the Consul-General of the Royal Danish Consulate General in Hong Kong, Mr Soren Kragholm.
"I am glad that the two governments have concluded this agreement today,” stated Mr Ip.
He added:
“It covers income derived from shipping from the operation of ships in international traffic, and will accordingly benefit Hong Kong and Danish shipowners as they will be relieved of the burden of double taxation.”
“This agreement will also strengthen Hong Kong's status as the preferred international and regional logistics hub," Mr Ip further declared.
Hong Kong already has similar double taxation relief arrangements for shipping income with major trading partners, including Mainland China, the US, the UK, the Netherlands, New Zealand, the Republic of Korea, Germany, Singapore, Norway and Sri Lanka.
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