Double Tax On Inland and HK Airlines to Be ExemptedChief executive of the Hong Kong Special Administrative Region (SAR) and the Administrative Conference recently announced exemption of double tax on the airlines of China's inland and Hong Kong which had earlier signed an agreement in accordance with the order made on the basis of related tax regulations.In the agreement signed between the HK SAR and Civil Aviation Administration of China on February 2, it is clearly stated that double tax on the income of airlines be exempted. The regulation on exempting the double tax stipulates that for the income and profits gained by airline companies in HK and China's inland on the other side's region and the assets related to the operation of aircraft, the other side should grant them tax exemption. Related orders will be published in the SAR Constitutional Paper and will be submitted to the Legislative Council on May 24. |
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