Canada-Hong Kong DTA analysis
20 November 2012
Matthew Gilleard - ITR
The long-awaited and much-lobbied-for tax treaty between Canada and Hong Kong was signed on November 11 and should facilitate investment between the two countries.
Hong Kong has rapidly been expanding its
network of tax treaties, particularly with its main trading
and investment partners, and the main motivation for signing
this treaty appears to be the improvement of Canadian trade
â€œMany Canadian businesses, including the
Investment Industry Association of Canada, had lobbied
extensively for a treaty with Hong Kong,â€ said
Brandon Siegal, of McCarthy Tetrault, who noted that despite it
being a lower tax jurisdiction, the OECD does not consider Hong
Kong a tax haven and that other G8 countries such as France,
the UK and Japan have negotiated similar treaties in the past
â€œFor Canada, having good trade relations
with Hong Kong is especially important as
Canadaâ€™s second largest trading partner is
China and the Hong Kong Special Administrative Region is seen
as the gateway to Chinese trade,â€ added Siegal.
â€œNotably, [Canadian] Prime Minister Harper
travelled to Hong Kong...
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