The income and capital tax treaty between Belarus and Hong Kong entered into force on 30 November 2017. The treaty, signed 16 January 2017, is the first of its kind between the two jurisdictions.
The treaty covers Belarusian tax on income, tax on profits, income tax on individuals, and tax on immovable property. It covers Hong Kong profits tax, salaries tax, and property tax.
The following capital gains derived by a resident of one Contracting Party may be taxed by the other Party:
Gains from the alienation of other property by a resident of a Contracting Party may only be taxed by that Party.
Both jurisdictions apply the credit method for the elimination of double taxation.
Article 27 (Anti-Abuse Rules) provides that a benefit under the treaty shall not be granted in respect of an item of income if it is reasonable to conclude that obtaining that benefit was one of the principal purposes of any arrangement or transaction that resulted directly or indirectly in that benefit, unless it is established that granting that benefit would be in accordance with the object and purpose of the relevant provisions of the treaty.
The treaty applies in Belarus from 1 January 2018 and in Hong Kong from 1 April 2018.
We’re here to answer any questions you have about the Orbitax products and services.
We’re committed to providing high value, low cost tax research and management solutions.
Our Twitter account is where you can find latest information, news updates, offers and lots more.