The Maldives and Hong Kong signed a Double Tax Agreement (DTA) on Monday during the Asia Initiative meeting, marking a significant step in advancing tax transparency and strengthening bilateral cooperation.
The agreement aims to eliminate the double taxation of income arising from cross-border transactions between businesses in both jurisdictions. It also safeguards taxpayer rights and helps prevent tax evasion. The Maldives Inland Revenue Authority (MIRA) confirmed that the DTA forms part of its ongoing efforts to establish a comprehensive and transparent tax treaty network.
Commissioner General of Taxation Hassan Zareer signed the agreement on behalf of the Maldives, while Sze Wai Benjamin Chan, Commissioner of Hong Kong’s Inland Revenue Department, signed on behalf of Hong Kong.
MIRA noted that the agreement enhances collaboration between the tax authorities of both countries and supports the Maldives’ broader strategy to build a fair, modern tax system. The Maldives previously signed similar agreements with India in 2016, the United Arab Emirates in 2017, Bangladesh in 2021, and Malaysia in 2024, as part of its efforts to strengthen international tax cooperation.
