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India, Hong Kong discuss abolition of double taxation
Wed, 27 Oct 2010 15:50:51 GMT
The Economic Times

India, Hong Kong discuss abolition of double taxation

India and Hong Kong today discussed bilateral issues, including the abolition of double taxation agreement , a move that will promote trade between the two sides.

"We are working towards creating a conducive environment for greater bilateral trade. This partnership with India will help bring mainland investors into this important market," Hong Kong Special Administrative Region Government Head Donald Tsang said after meeting Finance Minister Pranab Mukherjee here.

The government is keen to explore opportunities that will help the business move forward, he said, adding that the key topics on the agenda included a double taxation avoidance agreement, abolition of visa fees and settlement of disputes through arbitration.

Speaking on the improving economic ties, Tsang pointed out that with an Indian community of more than 27,000 people, Hong Kong is host to many of India's leading companies and entrepreneurs.

The Air Services Agreement signed between Hong Kong and India in 2007 has also greatly facilitated air travel between the two places, with 49 flights operating daily between the two geographies.

Total trade between Hong Kong and India in the first eight months of 2010 amounted to about USD 12 billion, an increase of 43 per cent compared to the same period last year
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