CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Saudi Arabia And Hong Kong Sign DTA

Saudi Arabia And Hong Kong Sign DTA

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

25 August 2017


Hong Kong and Saudi Arabia have signed a comprehensive agreement for the avoidance of double taxation.

The agreement outlines the allocation of taxing rights between the two jurisdictions Under it, any Saudi Arabian tax paid by Hong Kong companies will be allowed as a credit against the tax payable in Hong Kong on the same profits, subject to the provisions of Hong Kong tax laws. Tax payable by Saudi companies in Hong Kong will be conversely be allowed as a deduction from the tax payable on the same income in Saudi Arabia.

The DTA caps withholding tax on dividends at five percent. Royalties paid for the use of, or the right to use, industrial, commercial, or scientific equipment will be taxed at five percent, with all other royalty payments facing an eight percent rate.

The DTA will come into force after both sides have completed their domestic ratification procedures.

TAGS: tax | double tax agreement (DTA) | Saudi Arabia | royalties | withholding tax | Hong Kong | dividends

To see today's news, click here.

 






Close

Password Reminder

Please enter your email address to receive a password reminder.

 











Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Tax-News+ Updates

Receive FREE daily updates from Tax-News.com, straight to your inbox. Register Now!

For a tailored solution, choose to receive selected news updates for your preferred jurisdictions and topics, with our enhanced Tax-News+ subscriber service. Read more...

 

Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »