Signing of Tax Treaty with Hong Kong
Toespraak van minister De Jager bij ondertekening van belastingverdrag met Hong Kong. Het verdrag is goed voor Nederlandse ondernemers in Hong Kong en bedrijven uit Hong Kong die zich in Nederland vestigen.
Your Excellency, ladies and gentlemen,
Hong Kong occupies an important place in the Asian and global economies. You have an excellent infrastructure. Your people are well educated. And your legislation is transparent. The Hong Kong stock exchange, and the proximity of Mainland China, make Hong Kong very attractive to many international companies. And accordingly, economic relations between the Netherlands and Hong Kong are intensifying. The Netherlands has become a major investor in Hong Kong, and Hong Kong businesses are increasingly investing in the Netherlands. I see this as a very positive development.
I have been greatly looking forward to this visit, for I’m aware how important it is. When we planned the trip, the political situation in the Netherlands was not what it is today. I recently became Minister of Finance, with responsibility for the entire ministry. So as you can imagine, my diary has become rather full. But I thought it was vital for this visit to go ahead.
The tax treaty that Hong Kong and the Netherlands are signing today is very important. Even if I had come all this way only to sign it, the journey would still have been worthwhile. The treaty will boost investments between the Netherlands and Hong Kong. It will strengthen Dutch competitiveness, and provide certainty and tax benefits for Hong Kong businesses that are based in the Netherlands or want to open branches there in the future. And vice versa, of course.
The treaty will also save businesses from double taxation. And enable us to take firm action against tax evasion. By providing the guarantees contained in the agreement, Hong Kong will show that it meets the OECD’s standards for information exchange. That is a big step forward, and I think Hong Kong deserves great credit for it.
Your Excellency,
Ongoing globalisation offers businesses countless opportunities but also brings with it many uncertainties. This tax treaty will allow us to eliminate some of those uncertainties. And this will help our companies achieve success. The treaty’s main purpose is to increase transparency and legal certainty regarding the allocation of taxation rights. So that companies know where they stand when it comes to paying taxes. Transparency will create the confidence necessary for economic growth. And that is something we certainly need at the present time.
So I am delighted to be signing this treaty today. And I hope it will pave the way for further cooperation between Hong Kong and the Netherlands in the future!
Thank you.