India signed a double taxation avoidance agreement with Hong Kong

Vastavam web: India and Hong Kong today signed a double taxation avoidance agreement (DTAA) that seeks to improve transparency in tax matters and help curb tax evasion and avoidance.The agreement between India and the Hong Kong Special Administrative Region (HKSAR) of the People’s Republic of China was signed by Indian Ambassador to China Gautam Bambawale and Hong Kong Finance Secretary Paul Chan Mo-po in Hong Kong, a press release from the Indian consulate in Hong Kong said.

It will improve transparency in tax matters and will help curb tax evasion and tax avoidance, it said.Bambawale is visiting Hong Kong, a Special Administrative Region of China, for the first time after he took over as envoy to Beijing last year.He called on Carrie Lam Cheng Yuet-ngor, Chief Executive of Hong Kong and met various other officials.