TNAG-1653-FCO40-2301-Proposed-extension-of-double-taxation-conventions-to-Hong-Ko-1987 — Page 12

MR. WOOD

Action Item

a. Consider arrangements to

resolve the incidence of

double taxation between

Hong Kong and China

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Annex I

Section V

The Financial System

GD Branch Liaison Officer : PAS(GD)2

Whether

Consultation

with the

Chinese is

Action

Action

Officer

necessary and if so timing

Start Date

Present Position

* DFS

*CIR

Necessary.

Pending the

problem,

both

*S (GD)

result of CIR's

LO (SD)

further re-

Jan 1986 Partly in recognition of the

have since introduced certain 1988

tax

Target Completion Date

Relevant Section/

Chapter of

I

the Basic Law

Third

jurisdictions quarter

Chapter V

{

I

measures

which

1

search, he may

substantially

resolve the

have to make

issue

of double

taxation on

further informal

income

from employment.

contacts with

Chinese

Briefly, the changes are :-

On the Hong Kong side

officials later

on.

Key:

*

Action officer with overall responsibility

The

Inland

Revenue

(Amendment) (No.

2) Bill

1987 released

proposed exemption to

to

on 4.9.87,

grant tax

a person on

the

portion

of income

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