China Tax Alert - Issue 15, July 2013
China and Switzerland signed a landmark free trade agreement (FTA) on 6 July 2013, paving the way for significant reductions in Customs duty rates between both parties that may commence as early as the middle of next year.
This further solidifies economic relations between the two countries as it only comes nine months after Hong Kong, China’s Special Administrative Region (SAR), entered into a double tax treaty with Switzerland to encourage joint investments between Swiss and Hong Kong based companies. Even though Hong Kong, as an SAR, is not a party to the FTA, Hong Kong companies that are investing and engaged in the manufacture of goods in China could be among the biggest beneficiaries of this FTA.
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