Hong Kong and Norway enter into tax pact (with photos)
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Mr Hui said, "Norway is an important trading partner of Hong Kong in Northern Europe. This June, I travelled to Norway specifically to discuss with their Ministry of Finance the early conclusion of the CDTA between our two jurisdictions. The Norwegian authorities responded positively, which led to the formal signing of the agreement today, just six months after the trip. The CDTA sets out the allocation of taxing rights between Hong Kong and Norway, which will enable investors to better assess their potential tax liabilities from cross-border economic activities and enjoy avoidance of double taxation. It is envisaged that this CDTA will create a more attractive business environment for the two places.
"The HKSAR Government has been committed to promoting international tax co-operation and has achieved significant results. Just this year, we signed a total of four CDTAs with Jordan, Maldives, Norway and Rwanda. The agreement signed today with Norway marks Hong Kong's 55th CDTA, fully reflecting Hong Kong's ongoing efforts in expanding its CDTA network."
In accordance with this CDTA, any tax paid by Hong Kong residents in Norway will be allowed as a credit against the tax payable in Hong Kong in respect of the same income, subject to the provisions of the Inland Revenue Ordinance (Cap. 112) (IRO). Moreover, Norway's withholding tax rate for Hong Kong residents on dividends, currently at up to 25 per cent, will be reduced to 5 per cent or 15 per cent, depending on the percentage of their shareholdings.
The CDTA will come into force after completion of ratification procedures by both sides. In Hong Kong, the Chief Executive in Council will make an order under the IRO, which will be tabled at the Legislative Council for negative vetting. Details of the CDTA are available on the Inland Revenue Department's website.
Mr Hui added, "During my visits to Slovenia and Poland this year, I also reached consensus with senior financial officials of both countries on CDTA negotiations. The HKSAR Government will continue to deepen tax co-operation with other countries and regions, thereby further enhancing Hong Kong's attractiveness as an international business and investment hub. We plan to commence CDTA negotiations with Slovenia and Oman early next year. In addition, Hong Kong's active participation in international efforts to enhance tax transparency and combat tax evasion has been well-recognised. Earlier this year, Hong Kong was successfully removed from the respective 'tax blacklists' of Chile, Colombia and Portugal."
At today's bilateral meeting, Mr Hui highlighted to Mr Dysvik the strengths of Hong Kong as an international financial and commercial centre, and explored co-operation opportunities between the two sides in the financial sector, including maritime finance, green finance and wealth management.
During his stay in Beijing, Mr Hui also called on the Ministry of Finance to discuss the preparatory work for the Asia-Pacific Economic Cooperation Finance Ministers' Meeting (FMM) 2026 to be held in Hong Kong in October next year. Hosted by the Ministry of Finance, the FMM will be held in Hong Kong under the arrangements and organisation of the HKSAR Government. A dedicated task force led by Mr Hui is responsible for co-ordinating relevant planning and preparatory work.
Mr Hui will return to Hong Kong this evening.
Ends/Tuesday, December 16, 2025
Issued at HKT 15:42
Issued at HKT 15:42
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