The fourth protocol to the China/Hong Kong income tax arrangement, signed April 1, 2015, entered into force on December 29, 2015, the Hong Kong Inland Revenue Department reported Tuesday.
The China/Hong Kong protocol clarifies the conditions under which an investment fund would be qualified for Hong Kong resident status, specifies the tax treatment of gains derived from the sale and purchase of shares in listed companies, lowers the Chinese withholding tax on royalties paid to aircraft and ship leasing businesses, and expands the types of items covered under exchange of information, among other things.
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