Tax update: Hong Kong is removed from Italy’s blacklists

03Dec2015

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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Disclaimer: This publication is general in nature and is not intended to constitute legal advice. You should seek professional advice before taking any action in relation to the matters dealt with in this publication.