, Hong Kong

Hong Kong signs tax pacts with Indonesia and Spain

A pair of tax agreements came into force recently.

The Hong Kong-Indonesia agreement for the avoidance of double taxation and the prevention of fiscal evasion became enforceable beginning March 28 after the completion of ratification procedures on both sides.

The agreement, signed in March 2010, will have effect in Hong Kong for any year of assessment beginning on or after April 1, 2013.

A similar agreement with Spain was implemented this week and will be in effect in Hong Kong for any year of assessment beginning on or after April 1, 2013.

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