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The Economy
Network of Agreements for Avoidance of Double Taxation
Comprehensive agreements for the avoidance of double taxation (CDTAs) with major economies help improve the business environment and facilitate flows of trade, investment and talent between Hong Kong and the rest of the world. They help reduce tax burdens on individuals and enterprises and eliminate uncertainties over tax liabilities. They also enhance Hong Kong's position as an international business and financial centre.
With effect from 12 March 2010, the HKSAR Government liberalised arrangements for exchanging tax information under the CDTAs to align with international standards. Since then, Hong Kong has signed 21 CDTAs applying the new standards up to the end of 2012, including four in 2012.
Government Procurement
Hong Kong, China is a signatory to the World Trade Organisation Agreement on Government Procurement (WTO GPA). Government procurement is undertaken in accordance with the principles of openness, transparency, fairness, public accountability, value for money and non- discrimination. Open tender procedures are widely used. Restricted or single tender procedures may be used under exceptional circumstances where open competitive tendering would not be appropriate, such as in cases involving patent or proprietary items. For complex and critical purchases, pre-qualification exercises may be conducted before tendering to ensure that suppliers are technically competent.
Purchases of goods and related services with values above pre-determined thresholds of the WTO GPA are undertaken by the Government Logistics Department (GLD). These purchases are normally made by competitive tendering to ensure that user departments' needs are met at the best possible price, having regard to the life-time cost and reliability of supply. Consideration is given to purchasing environmentally friendly products where available and appropriate. In 2012, the GLD awarded contracts with a total value of $5.18 billion. The goods and related services were procured from 31 different countries or territories (including Hong Kong).
To facilitate sourcing and market research, the GLD maintains supplier lists comprising suppliers both in and outside Hong Kong for different categories of goods and services.
Notices for open and pre-qualification tenders are published in the Government Gazette and put on the internet. Suppliers on the relevant supplier lists and, in the case of procurement covered by the WTO GPA, consulates and overseas trade commissions will also be informed where appropriate. Tender documents may be downloaded and tender offers may also be submitted through a prescribed internet system.
Websites
Economic Analysis and Business Facilitation Unit, Financial Secretary's Office: www.eabfu.gov.hk Financial Services and the Treasury Bureau: www.fstb.gov.hk
Government Logistics Department: www.gld.gov.hk
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