Hong Kong and Norway Sign Comprehensive Double Taxation Agreement to Boost Economic Cooperation

2025-12-16 15:42 Last Updated At：15:58

Hong Kong and Norway enter into tax pact

The Secretary for Financial Services and the Treasury, Mr Christopher Hui, had a bilateral meeting with the Ambassador of Norway to China, Mr Vebjørn Dysvik, in Beijing today (December 16) and signed on behalf of the Hong Kong Special Administrative Region (HKSAR) Government a comprehensive avoidance of double taxation agreement (CDTA) with the Government of the Kingdom of Norway.

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Hong Kong and Norway enter into tax pact Source: HKSAR Government Press Releases

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Hong Kong and Norway enter into tax pact Source: HKSAR Government Press Releases

Mr Hui said, "Norway is an important trading partner of Hong Kong in Northern Europe. This June, I travelled to Norway specifically to discuss with their Ministry of Finance the early conclusion of the CDTA between our two jurisdictions. The Norwegian authorities responded positively, which led to the formal signing of the agreement today, just six months after the trip. The CDTA sets out the allocation of taxing rights between Hong Kong and Norway, which will enable investors to better assess their potential tax liabilities from cross-border economic activities and enjoy avoidance of double taxation. It is envisaged that this CDTA will create a more attractive business environment for the two places.

"The HKSAR Government has been committed to promoting international tax co-operation and has achieved significant results. Just this year, we signed a total of four CDTAs with Jordan, Maldives, Norway and Rwanda. The agreement signed today with Norway marks Hong Kong's 55th CDTA, fully reflecting Hong Kong's ongoing efforts in expanding its CDTA network."

In accordance with this CDTA, any tax paid by Hong Kong residents in Norway will be allowed as a credit against the tax payable in Hong Kong in respect of the same income, subject to the provisions of the Inland Revenue Ordinance (Cap. 112) (IRO). Moreover, Norway's withholding tax rate for Hong Kong residents on dividends, currently at up to 25 per cent, will be reduced to 5 per cent or 15 per cent, depending on the percentage of their shareholdings.

The CDTA will come into force after completion of ratification procedures by both sides. In Hong Kong, the Chief Executive in Council will make an order under the IRO, which will be tabled at the Legislative Council for negative vetting. Details of the CDTA are available on the Inland Revenue Department's website.

Mr Hui added, "During my visits to Slovenia and Poland this year, I also reached consensus with senior financial officials of both countries on CDTA negotiations. The HKSAR Government will continue to deepen tax co-operation with other countries and regions, thereby further enhancing Hong Kong's attractiveness as an international business and investment hub. We plan to commence CDTA negotiations with Slovenia and Oman early next year. In addition, Hong Kong's active participation in international efforts to enhance tax transparency and combat tax evasion has been well-recognised. Earlier this year, Hong Kong was successfully removed from the respective 'tax blacklists' of Chile, Colombia and Portugal."

At today's bilateral meeting, Mr Hui highlighted to Mr Dysvik the strengths of Hong Kong as an international financial and commercial centre, and explored co-operation opportunities between the two sides in the financial sector, including maritime finance, green finance and wealth management.

During his stay in Beijing, Mr Hui also called on the Ministry of Finance to discuss the preparatory work for the Asia-Pacific Economic Cooperation Finance Ministers' Meeting (FMM) 2026 to be held in Hong Kong in October next year. Hosted by the Ministry of Finance, the FMM will be held in Hong Kong under the arrangements and organisation of the HKSAR Government. A dedicated task force led by Mr Hui is responsible for co-ordinating relevant planning and preparatory work.

Mr Hui will return to Hong Kong this evening.

John Lee reports to Xi Jinping on Jimmy Lai case and Tai Po fire response efforts.

Remarks by CE at media session in Beijing after reporting to President Xi Jinping

Following are the remarks by the Chief Executive, Mr John Lee, at a media session in Beijing after reporting to President Xi Jinping on work on December 16:

Reporter: First, you mentioned that you reported the judgement of Jimmy Lai's case to the President. Did he touch on the case given that US President Donald Trump called on President Xi to release Lai? And secondly, did President Xi give any further instructions on social reforms regarding the Tai Po fire, and did he call for officials to be held accountable? Thank you.

Chief Executive: I reported to President Xi on what we have been doing to safeguard national security. I reported the conviction of Lai Chee-ying yesterday when the court convicted him on all three counts relating to endangering national security. I also reported to President Xi that we will continue to steadfastly uphold our duty of safeguarding national security, including the whole of the HKSAR (Hong Kong Special Administrative Region), which means the Government, the Legislative Council, and also the Judiciary. All of us have a duty under the Hong Kong National Security Law to safeguard national security. President Xi heard about what we did, and he affirmed his strong recognition of our efforts in this regard, and he also confirmed his strong support for both the Government and the Judiciary to uphold the duty of safeguarding national security. This is a case which is very important in our whole efforts to protect national security, because it confirms that for people who try to make use of different excuses, positioning themselves deceitfully in different positions, whether in relation to being a media operator or otherwise, the law clearly targets acts of the defendants that contravene the national security law. Then, they are rightfully convicted by the court based on evidence and legal principles. President Xi encouraged us to continue our efforts in this regard, but I must also make use of this opportunity to condemn government officials or media organisations outside Hong Kong, who tried to mislead the public and ignore the strong reasons that were very clearly spelled out in the judgement concerning the crimes committed by Lai. Some organisations, particularly foreign media organisations, deliberately mislead the public and deliberately whitewash the criminal acts of Lai under the cloak of so-called "media tycoon". And these organisations' objective is to obscure Lai's shameless acts and subversive actions as an agent of external forces to infiltrate and brainwash young people, through manipulating the media to incite the public and betraying the interests of the country and the people.

As regards the Government's efforts in helping out affected families who suffered in the Tai Po fire, President Xi listened to what the Hong Kong Government has done and also what we are doing in helping the affected families, the relief that we have all been doing to help and support them. About the action to help them to recover as well as the action to help society as a whole to recover, he encouraged us to continue to work hard on that. He has mentioned that it has to be a consistent and continuous effort - this is exactly what I am doing together with my government team. I reported to him the establishment of the Independent Committee, which will fairly and justly look into two critical topics that relate to the cause of the wide-spread fire, and also the long-standing problem that troubles a lot of people in Hong Kong regarding large-scale building renovation work. I have told him these two topics are big topics that will involve a lot of work. I have mentioned the gratitude that I have for the Chairman and the two members to boldly undertake these two very important responsibilities. I have said that I have given nine months for the Independent Committee to complete its work, which is a pressing timetable because, unlike other previous setups, we are dealing with two main topics instead of one. This is actually asking the Independent Committee to do two major tasks almost in parallel; that will be very demanding. That is also why I reported that I have given this reserve power for the Independent Committee - on the one hand, they can really streamline procedures to increase efficiency so that they can finish the work as soon as possible, and at the same time ensure that they will have the power necessary if it is required at the time to address certain issues and areas. I have made it very clear to President Xi that the Committee's purpose is to find out the truth and also to look for accountability. I have repeated that many times before our friends of media, and I want to repeat it again. We'll ensure that no stone will be left unturned to probe the truth and find out the loopholes and those who are responsible, and then accountability will come in.

(Please also refer to the Chinese portion of the remarks.)

Hong Kong and Norway Sign Comprehensive Double Taxation Agreement to Boost Economic Cooperation

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