On November 24, 2017 the Government of the Hong Kong Special Administrative Region announced that as per that same date the Agreement between the Government of the Hong Kong Special Administrative Region of the People’s Republic of China and the Government of the Republic of Latvia for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income (Hereafter: the DTA) entered into force.
Based on Article 27, Paragraph 2 of the DTA (“Entry into Force”) the fact that the DTA entered into force on November 24, 2017 means that the provisions of the DTA shall have effect:
a) in the case of the Hong Kong Special Administrative Region:
in respect of Hong Kong Special Administrative Region tax, for any year of assessment beginning on or after April 1, 2018;
b) in the case of Latvia:
(i) in respect of taxes withheld at source, on income derived on or after January 1, 2018;
(ii) in respect of other taxes on income, for taxes chargeable for any fiscal year beginning on or after January 1, 2018.
An analysis of a selection of provisions included in the DTA as well as a link to the text of the DTA can be found in our article from April 18, 2016.
Copyright – internationaltaxplaza.info