Guernsey and Hong Kong sign tax agreement

A taxation agreement signed by Guernsey and Hong Kong is an important step in growing business links, Guernsey's chief minister has said.

Deputy Peter Harwood said it would "resolve issues relating to potential double taxation" and "lead to greater opportunities for new business".

Since 2011 Guernsey has signed six of the double taxation agreements.

Rob Gray, director of income tax, said they helped stop people and companies being charged in both jurisdictions.

Deputy Harwood said one with Luxembourg would be signed shortly.

Last week the chief minister signed a tax information exchange agreement with the British Virgin Islands - the 41st such accord to be reached.

A policy council spokesman said: "This network of agreements covers the majority of G20 countries and EU member states."