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Hong Kong, Fiji Sign DTA For Aviation Industry

by Mary Swire, Tax-News.com, Hong Kong

24 May 2010


Hong Kong is expected to ratify a double tax convention negotiated with Fiji on May 26 when it goes before the country’s legislative council. The agreement, when it enters into force, will assign the taxing rights of the two countries with respect to aircraft operation income.

"Under the double taxation relief arrangements, tax exemption for income and profits derived from aircraft operations in international traffic is provided for the airlines of Hong Kong and Fiji [in the respective countries]. Aircraft operators of Hong Kong and Fiji will benefit from the relief of double taxation. The arrangements should help lower costs of operation, improve income and, indirectly, efficiency as well," a spokesperson for the Hong Kong Transport and Housing Bureau said.

"It is our policy to enter into double taxation relief arrangements relating to income from aircraft operations with our aviation partners," the spokesperson added.

The Hong Kong government noted that the agreement will provide a beneficial legal framework that should lower costs of operation, improve income and, indirectly, efficiency as well.

TAGS: tax | business | double tax agreement (DTA) | aviation | Fiji | withholding tax | Hong Kong

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