A new agreement with Hong Kong, which the Shura Council will discuss today, will exempt government investments and income from natural resources from taxation. The arrangement is part of a broader effort to encourage economic collabor
TDT | Manama
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A new agreement with Hong Kong, which the Shura Council will discuss today, will exempt government investments and income from natural resources from taxation.
The arrangement is part of a broader effort to encourage economic collaboration as Bahrain seeks to expand its network of double taxation treaties, which currently includes 45 agreements with countries around the world.
The proposed treaty aims to eliminate double taxation on income and curb tax evasion.
According to the Financial and Economic Affairs Committee of the Shura Council, the pact reflects a shared ambition between both governments to strengthen economic ties and ensure fairer tax practices.
By removing obstacles like overlapping tax obligations, the agreement is expected to benefit both residents and businesses in Bahrain and Hong Kong.
The Ministry of Finance and National Economy emphasized that these agreements are part of a broader effort to promote fairness and transparency in the tax system while preventing profit-shifting to tax havens.
