New Delhi, Dec 5 : The agreement between India and the Hong Kong Special Administrative Region of China for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to taxes on income has come into force.
The DTTA, signed on March 19, 2018, will stimulate flow of investment, technology and personnel from India to HKSAR and vice versa, prevent double taxation and provide for exchange of information between the two sides.
It will improve transparency in tax matters and help curb tax evasion and tax avoidance.
India completed all the relevant procedures required by its laws for the entry into force of the agreement on May 11, 2018.
The government of HKSAR completed all the relevant procedures required by its laws for the entry into force of the agreement on November 30, 2018, according to Consulate General of India, Hong Kong.(UNI)