Maldives, Hong Kong sign agreement to prevent double taxation
The Maldives has previously signed similar agreements with India, Bangladesh, Malaysia, and the United Arab Emirates.
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The Maldives and Hong Kong have signed an agreement to prevent the double taxation of income arising from trade between the two jurisdictions.
The agreement was signed on Monday by Tax Commissioner Hassan Zareer on behalf of the Maldives and Commissioner Chenziwai Benjamin of the Hong Kong Inland Revenue Department.
According to the government of Hong Kong, the agreement is intended to safeguard taxpayer rights and ensure that income from cross-border transactions is not subject to taxation in both locations.
The agreement also includes provisions for the exchange of tax information between the two parties.
The Maldives has previously signed similar agreements with India, Bangladesh, Malaysia, and the United Arab Emirates.
