Hong Kong Customs seizes live turtles of suspected scheduled endangered species
Hong Kong Customs yesterday (October 28) seized eight live turtles of suspected scheduled endangered species, with a total estimated market value of about $54,000, at Hong Kong International Airport.
Through risk assessment, Customs officers intercepted two parcels declared as containing plush toys and building blocks from the United States to Hong Kong. Upon inspection, the batch of live turtles of suspected scheduled endangered species was found inside the two parcels.
The cases were handed over to the Agriculture, Fisheries and Conservation Department for follow-up actions.
Under the Protection of Endangered Species of Animals and Plants Ordinance (Cap. 586), any person importing, exporting or possessing specimens of endangered species not in accordance with the Ordinance commits an offence and will be liable to a maximum fine of $10 million and imprisonment for 10 years upon conviction with the specimens forfeited.
Members of the public may report any suspected smuggling activities to Customs' 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).
Hong Kong Customs yesterday (October 28) seized eight live turtles of suspected scheduled endangered species with a total estimated market value of about $54,000 at Hong Kong International Airport. Photo shows the suspected scheduled endangered live turtles seized. Source: HKSAR Government Press Releases
Hong Kong Customs yesterday (October 28) seized eight live turtles of suspected scheduled endangered species with a total estimated market value of about $54,000 at Hong Kong International Airport. Photo shows the suspected scheduled endangered live turtles seized. Source: HKSAR Government Press Releases
Hong Kong and Laos enter into tax pact
The Financial Secretary, Mr Paul Chan, had a bilateral meeting with the Deputy Prime Minister and Minister of Finance of Laos, Mr Santiphab Phomvihane, in Hong Kong today (October 29) and jointly witnessed the signing of a comprehensive avoidance of double taxation agreement (CDTA) by the Acting Secretary for Financial Services and the Treasury, Mr Joseph Chan, and Deputy Minister of Finance of Laos Mr Soulivath Souvannachoumkham on behalf of the Hong Kong Special Administrative Region (HKSAR) Government and the Government of Laos respectively.
Mr Chan said, "Laos is a member of the Association of Southeast Asian Nations (ASEAN) and a participant in the Belt and Road Initiative, with significant potential for co-operation with Hong Kong in areas such as economy, trade and investment. This CDTA helps foster economic and trade ties between the two places, further leverages Hong Kong's unique role as a 'super connector' and 'super value-adder' linking the Chinese Mainland with the international market, and creates favourable conditions for advancing regional economic integration."
At the bilateral meeting, Mr Chan highlighted to Mr Phomvihane the latest developments of Hong Kong as an international financial centre, including its advantages in areas such as capital market, green and sustainable finance, wealth management, global competitiveness and tax policy, as well as the HKSAR Government's initiatives to develop Hong Kong into a global gold trading, clearing and reserve hub. They also explored further collaboration to drive high-quality development along the Belt and Road together.
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, met with Mr Phomvihane in Hong Kong and Laos in March and July this year respectively to discuss the early conclusion of the CDTA. This is Hong Kong's 61st CDTA, the sixth one signed this year, and the 16th one signed by the current-term Government, reflecting that the Government's efforts to expand the CDTA network have been consistently bearing fruit. Hong Kong has signed CDTAs with seven ASEAN member states, covering more than 70 per cent of ASEAN's total population and gross domestic product. The CDTA sets out the allocation of taxing rights between Hong Kong and Laos, which will enable investors to better assess their potential tax liabilities from cross-border economic activities and avoid double taxation, thereby promoting bilateral trade and investment.
In accordance with this CDTA, any tax paid by Hong Kong residents in Laos 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). In addition, Laos'withholding tax rate for Hong Kong residents on dividends, currently at 10 per cent, will be reduced to a minimum of 5 per cent, while the withholding tax rate on interest, currently at 10 per cent, will also be reduced to 5 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 in respect of the CDTA, which will be tabled at the Legislative Council for negative vetting. Details of the CDTA are available on the Inland Revenue Department's website.
Hong Kong and Laos signed a comprehensive avoidance of double taxation agreement today (October 29). Photo shows (from left) Deputy Minister of Finance of Laos Mr Soulivath Souvannachoumkham; the Deputy Prime Minister and Minister of Finance of Laos, Mr Santiphab Phomvihane; the Financial Secretary, Mr Paul Chan; and the Acting Secretary for Financial Services and the Treasury, Mr Joseph Chan, at the signing ceremony. Source: HKSAR Government Press Releases
The Financial Secretary, Mr Paul Chan (first right), and the Deputy Prime Minister and Minister of Finance of Laos, Mr Santiphab Phomvihane (first left) witnessed today (October 29) the signing of a comprehensive avoidance of double taxation agreement by the Acting Secretary for Financial Services and the Treasury, Mr Joseph Chan (second right), and Deputy Minister of Finance of Laos Mr Soulivath Souvannachoumkham (second left) on behalf of the Hong Kong Special Administrative Region Government and the Government of Laos respectively. Photo shows Mr Joseph Chan exchanging documents with Mr Souvannachoumkham after the signing. Source: HKSAR Government Press Releases
The Financial Secretary, Mr Paul Chan (back row, right), and the Deputy Prime Minister and Minister of Finance of Laos, Mr Santiphab Phomvihane (back row, left) witnessed today (October 29) the signing of a comprehensive avoidance of double taxation agreement by the Acting Secretary for Financial Services and the Treasury, Mr Joseph Chan (front row, right), and Deputy Minister of Finance of Laos Mr Soulivath Souvannachoumkham (front row, left) on behalf of the Hong Kong Special Administrative Region Government and the Government of Laos respectively. Source: HKSAR Government Press Releases
The Financial Secretary, Mr Paul Chan (second right), had a bilateral meeting today (October 29) with the Deputy Prime Minister and Minister of Finance of Laos, Mr Santiphab Phomvihane (second left). Photo shows Mr Chan highlighting to Mr Phomvihane the latest developments of Hong Kong as an international financial centre, including its advantages in areas such as capital market, green and sustainable finance, wealth management, global competitiveness and tax policy, as well as the HKSAR Government's initiatives to develop Hong Kong into a global gold trading, clearing and reserve hub. They also explored further collaboration to drive high-quality development along the Belt and Road together. Also in attendance are the Acting Secretary for Financial Services and the Treasury, Mr Joseph Chan (first right), and Deputy Minister of Finance of Laos Mr Soulivath Souvannachoumkham (first left). Source: HKSAR Government Press Releases
