• Hong Kong - Spain
    Provisions of Tax Treaty Come Into Effect

    04-01-2013

    The provisions of the tax treaty between Hong Kong and Spain came into effect on 1 January 2013 in Spain. In Hong Kong, the provisions will come into effect on 1 April 2013.

    The treaty was signed on 1 April 2011 and came into force on 16 April 2013.

    As per the treaty the following withholding taxes will apply:

    • Dividends:
      • 0% if the beneficial owner is a company (other than a partnership) which holds directly at least 25% of the capital of the company paying the dividends.
      • 10% in all other cases.

    • Interest:
      • 0% if the beneficial owner of the interest is a financial institution or a pension fund that is approved for tax purposes and the income of that fund is generally exempt.
      • 5% in all other cases.

    • Royalties: 5% withholding tax on royalties.
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