Hong Kong and Laos enter into tax pact (with photos)

The Financial Secretary, Mr Paul Chan, had a bilateral meeting with the Deputy Prime Minister and Minister of Finance of Laos, Mr Santiphab Phomvihane, in Hong Kong today (October 29) and jointly witnessed the signing of a comprehensive avoidance of double taxation agreement (CDTA) by the Acting Secretary for Financial Services and the Treasury, Mr Joseph Chan, and Deputy Minister of Finance of Laos Mr Soulivath Souvannachoumkham on behalf of the Hong Kong Special Administrative Region (HKSAR) Government and the Government of Laos respectively. Mr Chan said, "Laos is a member of the Association of Southeast Asian Nations (ASEAN) and a participant in the Belt and Road Initiative, with significant potential for co-operation with Hong Kong in areas such as economy, trade and investment. This CDTA helps foster economic and trade ties between the two places, further leverages Hong Kong's unique role as a 'super connector' and 'super value-adder' linking the Chinese Mainland with the international market, and creates favourable conditions for advancing regional economic integration." At the bilateral meeting, Mr Chan highlighted to Mr Phomvihane the latest developments of Hong Kong as an

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