| Hong Kong and Luxembourg have signed a comprehensive agreement on the avoidance of double taxation, the fourth such agreement concluded by Hong Kong.
The agreement was signed on November 2 by Secretary for Financial Services and the Treasury, Professor KC Chan and Luxembourg Economy and Foreign Trade Minister, Jeannot Krecke. It will eliminate double taxation instances encountered by Hong Kong and Luxembourg investors, and bring about tax savings and certainty in tax liabilities in connection with cross-border economic activities.
The agreement will also help foster closer economic and trade links between the two places, and provide added incentives for Luxembourg enterprises to do business or invest in Hong Kong.
The agreement is scheduled to come into force on April 1 in Hong Kong, and on January 1 in Luxembourg. | 
