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Hong Kong. Tax treaty with Belarus

Hong Kong signed the Comprehensive Avoidance of Double Taxation Agreement (CDTA) with Belarus in January 2017 and after the completion of ratification procedures on both sides it came into force on November 30, 2017. In Hong Kong the Agreement will be in effect for any year of assessment beginning on or after April 1, 2018.

The CDTA will limit withholding tax rate on dividends and interest to 5%, and withholding tax rate on royalties will be limited to 3% for income derived from royalties made by using aircrafts (and 5% for all other cases).

The taxes for which the double tax treaty will apply in case of Hong Kong:

- profits tax,

- salaries tax,

- property tax.

The taxes for which the double tax treaty will apply in case of Belarus:

- income tax,

- profits tax,

- personal income tax,

- tax on immovable property.

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