Protocol to the Tax Arrangement between China and Hong Kong has Entered into Force
On 29 December 2015, the protocol to the 2006 income tax arrangement between China and Hong Kong entered into force. The protocol, signed 1 April 2015, is the third to amend the arrangement. The protocol:
- Replaces paragraph 1 of Article 8 (Shipping, Air and Land Transport), clarifying that the tax exemption for income from operation of ships, aircraft or land transport also includes exemption …