The U.S. IRS has issued an announcement regarding the effective date of the termination of the 1989 shipping agreement with Hong Kong.
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Announcement 2020-40; The United States provided written notification, dated August 18, 2020, to the Government of the Hong Kong Special Administrative Region of its termination of a reciprocal agreement to exempt from income tax certain income from the international operation of ships. This announcement provides that the termination shall take effect o…