Legal update: Tax update: Hong Kong is removed from Italy’s blacklists03Dec2015
Following the tax treaty between Italy and Hong Kong that was entered into on 14th January 2013, Italy removed Hong Kong from its list of non-cooperative tax jurisdictions (also know as “Italian blacklists”) on 30th November 2015. It is expected that this development will boost commercial ties between these two jurisdictions with increased trade and business. The Treaty will become effective in Italy on 1st January 2016 and in Hong Kong on 1st April 2016.
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