Additions to Hong Kong Tax Treaties

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Hong_Kong_Skyline_Restitch_-_Dec_2007 Italy, Guernsey and Qatar will be included amongst tax treaties that Hong Kong (HK) shares with other countries. The agreements, as approved by the Inland Revenue Ordinance, will bring certainty to investors and businesses regarding tax liabilities. A single source of income under the tax treaties is paid only once in correspondence with the countries involved. The Legislative Council will be presenting the treaties on October the 9th for objections and once all details are agreed upon, the treaties shall be in effect.