ICS Trust
Under the treaty, Canada’s withholding tax on Hong Kong investment interests will be capped at 10 per cent as compared to 25 per cent previously. Hong Kong-based airlines flying to Canada will not be taxed in Canada and will only be taxed at a corporate rate of 16.5 per cent in Hong Kong. This will be beneficial to the aviation industry as the carrier could save money and time on working out where their profit was generated.