HK, Türkiye ink tax agreement

Companies will benefit from relief on double taxation.

Hong Kong has signed a comprehensive avoidance of double taxation agreement (CDTA) with Türkiye on 24 September to further promote economic and trade relations between the two jurisdictions and enhance connectivity.

Under the agreement, Hong Kong companies will benefit from relief on double taxation. Any tax paid in Türkiye will be credited against the tax payable in Hong Kong on the same income, in accordance with Hong Kong’s tax laws. 

“We will continue to negotiate with trading and investment partners with a view to expanding Hong Kong's CDTA network. This will enhance the attractiveness of Hong Kong as a business and investment hub, and consolidate the city's status as an international economic and trade centre,” said Christopher Hui, secretary for Financial Services & the Treasury.

This CDTA is the 51st agreement that Hong Kong has concluded.