Russian government approves draft double taxation agreement with Hong Kong

The draft agreement is intended to settle the issue of taxation of business profit, property revenues, sea and air transportation earnings, passive revenues and individual income

MOSCOW, December 10. /TASS/. The Russian Government approved the draft intergovernmental agreement with Hong Kong on avoidance of double taxation and prevention of tax evasion. The relevant decree was posted on the government’s website on Friday.

The draft agreement is intended to settle the issue of taxation of business profit, property revenues, sea and air transportation earnings, passive revenues [dividends, interest and royalty] and individual income. The draft agreement provides for information sharing between competent authorities of counterparties.

The draft agreement is consistent with provisions of the Eurasian Economic Union Treaty and other international accords of Russia and will be subject to ratification after signing.