Macau wants agreements with all Portuguese-speaking countries to avoid tax evasion

Macao authorities intent is justified by the "close cultural, economic and commercial relationship" with

Macao authorities intent is justified by the "close cultural, economic and commercial relationship" with Portuguese-speaking countries.

  |  D.R.

Today Macao authorities have admitted to signing agreements with more Portuguese-speaking countries to avoid double taxation on income and tax evasion, having done so already with Portugal and Mozambique.

The intent was expressed in a statement announcing the latest agreement signed between Macao and Hong Kong to avoid double taxation and prevent tax evasion on income taxes.

Macao "is committed to comply to internationally approved information exchange and tax transparency criteria", and therefore "will actively contact more countries (...), particularly Portuguese-speaking countries (...) in order to study the possibility of concluding agreements to avoid double taxation on income", the same note states.

Macao authorities intent is justified by the "close cultural, economic and commercial relationship" with Portuguese-speaking countries.

Macao already has this commitment to Portugal since 1999. More recently, on June 21, 2018, a protocol was concluded amending "the agreement between the Government of Macao and (...) Portugal to avoid double taxation and prevent tax evasion on income taxes."

A similar agreement was concluded with Mozambique on June 15, 2007.

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