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 Islamic Republic of Pakistan 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 29, 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 Pakistan:
(i) with regard to taxes withheld at source, in respect of amounts paid or credited on or after July 1, 2018;
(ii) with regard other taxes, in respect of taxable years beginning on or after July 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 February 18, 2016.
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