Hong Kong has signed an agreement with Turkey to overcome double taxation issues in cross-border trade and investment, a move that also helped widen the city’s cooperation with more jurisdictions under Beijing’s Belt and Road Initiative.
The initiative, introduced by President Xi Jinping 11 years ago to rebuild the ancient Silk Road in 140 countries, involves building roads, ports, railways and power plants to promote trade flow, backed by funding from China’s state-run development bank.
“This milestone is another tangible illustration of Hong Kong’s determination to expand tax trading equity,” Chief Executive John Lee Ka-chiu said on Tuesday. It highlights “our commitment to boosting ties and relations with developing local economies,” he added.
The Swiss Federal Council’s proposal to include crypto assets in the Automatic Exchange of Information (AEOI) system shows the country’s commitment to crypto tax compliance and transparency. The
China said on Thursday it will temporarily exempt foreign firms from paying provisional income tax on profits they re-invest into the economy, in a bid to stop foreign firms shifting their operations
The European Union countries approved on Tuesday to keep Panama, Russia and nine other jurisdictions on their blacklist of tax havens after finding that they continue not to cooperate in this matter
Switzerland on Wednesday said it had drafted new rules to tighten perceived cracks in its money laundering regulations, holding lawyers and consultants accountable for reporting risks and stepping up