Three orders implementing double taxation relief arrangements for flights between Hong Kong, Mexico and Finland were gazetted in the Hong Kong Legislative Assembly on Friday, the government's Transport and Housing Bureau has announced.
Under the legislation, the three jurisdictions' airlines will be tax exempt for income and profits derived from international flights. This is intended to stop double taxation, cut operation costs, and improve income and efficiency.
The Specification of Arrangements (Government of the Republic of Finland) (Avoidance of Double Taxation on Income from Aircraft Operation) Order will no longer be required, the Bureau stated.
The orders will be tabled at the Legislative Council on Wednesday.
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