The Maldives has signed a Comprehensive Double Taxation Avoidance Agreement (CDTA) with Hong Kong to prevent the double taxation of income and enhance tax transparency between the two jurisdictions.

The agreement was signed today in Malé, with Commissioner General of Taxation Hassan Zareer representing the Maldives and Hong Kong’s Commissioner of Inland Revenue, Chan Sze Wai Benjamin, signing on behalf of Hong Kong.

The CDTA sets out clear rules on the allocation of taxing rights between the two regions, providing certainty for investors and businesses engaging in cross-border economic activities.

It also aims to prevent tax evasion and foster cooperation through the exchange of tax information.

This bilateral agreement ensures that income generated from business activities between the Maldives and Hong Kong will not be taxed twice, thereby promoting international trade and investment.

It marks another step forward in the Maldives Inland Revenue Authority’s (MIRA) efforts to strengthen the country's tax system and align with global standards of transparency.

Over the years, the Maldives has signed similar double taxation avoidance agreements with India (2016), the United Arab Emirates (2017), Bangladesh (2021), and Malaysia.

The new agreement with Hong Kong reflects the country’s ongoing commitment to expanding its network of tax treaties to support economic growth.