Hong Kong and Cyprus Sign Comprehensive Double Taxation Agreement to Boost Trade and Investment

2026-06-12 17:50 Last Updated At：17:58

Hong Kong and Cyprus enter into tax pact

The Secretary for Financial Services and the Treasury, Mr Christopher Hui, had a bilateral meeting with the Ambassador of the Republic of Cyprus to China,Ms Koula Sophianou, in Hong Kong today (June 12) 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 Cyprus.

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

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

Mr Hui said, "This is the 58th CDTA that Hong Kong has concluded and also the third one this year, signifying the HKSAR Government's ongoing achievements in expanding the CDTA network. To date, the current-term Government has signed 13 CDTAs. We will continue to actively seek to sign CDTAs with more tax jurisdictions to enhance the attractiveness of Hong Kong as a business and investment hub.

"This week, we announced the Action Plan to Promote the Development of Corporate Treasury Centres in Hong Kong, which sets out targeted strategies to elevate Hong Kong as a major base for corporate treasury centres. Continued expansion of our CDTA network is one of the key strategies. Going forward, we will focus on engaging economies along the Belt and Road. This will provide Hong Kong-based enterprises with greater tax certainty and avoidance of double taxation when expanding their businesses overseas."

At the meeting, Mr Hui highlighted to Ms Sophianou the advantages of Hong Kong as an international financial centre and its latest developments, including its rise to become the world's largest cross-boundary wealth management centre and the efforts made to build an international gold trading market in Hong Kong.

Mr Hui added, "Cyprus is a participant in the Belt and Road Initiative and an important trading partner of Hong Kong in Europe. This CDTA sets out the allocation of taxing rights between Hong Kong and Cyprus, which will enable investors to better assess their potential tax liabilities from cross-boundary economic activities and avoid double taxation. This will help promote bilateral trade and investment."

In accordance with this CDTA, any tax paid by Hong Kong residents in Cyprus 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, Cyprus' withholding tax rates for Hong Kong residents on royalties, currently at up to 10 per cent, will be reduced to 3 per cent.

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.

AFCD Celebrates 30 Years of Marine Parks with Roving Exhibition and Free Community Events

Marine parks 30th anniversary "Together We Treasure, Together We Explore" series celebration events (with photos/video)

To celebrate the 30th anniversary of the establishment of marine parks, the Agriculture, Fisheries and Conservation Department (AFCD) is organising the "Marine Parks 30th Anniversary" Roving Exhibition at D·PARK in Tsuen Wan from today (June 12) to June 18, kicking off a series of marine parks 30th anniversary celebration events.

From now until December this year, the AFCD will organise a wide range of marine parks 30th anniversary celebration events under the theme of "Together We Treasure, Together We Explore". Through roving exhibitions, ecotours, workshops and various experiential activities, the AFCD will introduce Hong Kong's rich marine biodiversity and years of conservation achievements to the public, and encourage the public to experience the natural beauty of marine parks and actively participate in marine conservation.

The "Marine Parks 30th Anniversary" Roving Exhibition showcases the history and conservation journey of marine parks and marine reserve over the years. It also promotes responsible marine life appreciation practices and sustainable marine recreational activities. The exhibition features information panels, interactive installations such as virtual reality experiences, photo spots, and marine conservation booths. On weekends, free public workshops such as marine wildlife illustration, coral reef clay-making, seashell upcycling, and fishing net weaving experiences will be held to bring marine conservation education closer to the community.

In addition, the AFCD, in collaboration with partner organisations, will launch various ecotours, including glass-bottom boat tours in Hoi Ha Wan Marine Park, coral-safe snorkelling tours, and Chinese White Dolphin tours. All activities are free of charge. Through hands-on experiences, the public will be encouraged to explore and cherish the ocean in a friendly, responsible, and sustainable manner.

For details of the events and registration, please visit the marine parks 30th anniversary webpage

(www.afcd.gov.hk/english/country/cou_vis/cou_vis_mar/cou_vis_mar_wha/cou_vis_mar_cel.html).

Since the establishment of the first batch of marine parks and the marine reserve in 1996, the AFCD has been committed to implementing various conservation measures. Currently, Hong Kong has designated eight marine parks and one marine reserve, covering a total area of 8 517 hectares, which are crucial for maintaining the marine biodiversity of Hong Kong waters. The marine parks in the eastern waters of Hong Kong are renowned for their coral communities, particularly Hoi Ha Wan Marine Park and Tung Ping Chau Marine Park, where Hong Kong's overall coral diversity surpasses that of the Caribbean. In the western waters, the North Lantau Marine Park, the Brothers Marine Park, together with the Sha Chau and Lung Kwu Chau Marine Park, and the Guangdong Pearl River Estuary Chinese White Dolphin National Nature Reserve form a network of protected areas for conserving Chinese White Dolphins. Over the past 30 years, these marine protected areas have played a vital role in nature conservation, public education, and scientific research, effectively preserving and sustaining precious marine ecological resources.

Hong Kong and Cyprus Sign Comprehensive Double Taxation Agreement to Boost Trade and Investment

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