The Hong Kong Inland Revenue Department has announced that the income tax treaty with Saudi Arabia entered into force on 1 September 2018. The treaty, signed 24 August 2017, is the first of its kind between the two jurisdictions.
Taxes Covered
The treaty covers Hong Kong profits tax, salaries tax, and property tax. It covers Saudi Zakat and income tax, including the natural gas investment tax.
Service PE
The treaty includes the provision that a permanent establishment will be deemed co…