Hong Kong Newsflash

1 December 2015

Hong Kong’s removal from the Italian blacklists. On 30 November 2015, Italy has removed Hong Kong from the list of non-cooperative tax jurisdictions (Italian blacklists). This important step that is expected to boost the business relationship between the two jurisdictions, has been achieved thanks to the approval of the tax treaty between Italy and Hong Kong (“Treaty”) signed on 14 January 2013. The Treaty will enter into force on the Italian side on 1 January 2016 and on the Hong Kong side on 1 April 2016.