Hong Kong and France agree to avoid double taxation

Tax pact was also made with 14 countries as HK opens expansion opportunities to French companies.

Hong Kong has signed an agreement with France for the avoidance of double taxation and the prevention of tax evasion on income and capital.

Financial Secretary John Tsang and French Minister of Economy, Industry & Employment Christine Lagarde signed the agreement in Paris on Thursday.

It is the 15th comprehensive agreement for the avoidance of double taxation concluded by Hong Kong with its trading partners. The other agreements were signed with the Mainland, Belgium, Thailand, Luxembourg, Vietnam, Brunei, the Netherlands, Indonesia, Hungary, Kuwait, Austria, the UK, Ireland and Liechtenstein, according to a government report.

Speaking at the signing ceremony, Mr Tsang said the deal raises the bilateral relationship between Hong Kong and France to a new level.

"I am fully confident the agreement we have just signed will represent a win-win for all parties, as Hong Kong continues to ride on the dynamic growth in the Asian region and offer tremendous opportunities to French companies seeking to expand their presence in our region," he said.