The government of the Hong Kong Special Administrative Region last week gazetted an order giving effect to relief from double taxation through the Air Services Agreement with the Macao SAR.
Signed on October 13 2003, the Air Services Arrangement with Macao contains provisions on double taxation relief in respect of income derived from the operation of passenger aircraft.
Commenting on the agreement, a government spokesman noted that the arrangement will provide reciprocal relief for income, profits and property of airlines operating in each respective area.
“This is mutually beneficial to the airline businesses of both Hong Kong and Macao," observed the spokesman.
The order will be tabled at the Legislative Council on Wednesday (October 27) for negative vetting.
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