Officials from China and the Macao Special Administrative Region signed a protocol to their tax arrangement following talks in Beijing, the Chinese government has announced.
According to the Chinese government, the protocol, signed July 19, provides that both parties will provide tax exemptions for transportation revenues between the two locations, including value-added tax and similar Chinese taxes.
The protocol also reduces the tax rate on royalties of airplane and ship charting, and adds relevant regulations on dividends, interests, royalties, and property incomes, the government said.
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