Taiwan and Macau have signed an agreement that will prevent double taxation of the aviation industry.
The agreement, signed Thursday, is a permanent replacement of an earlier memorandum of understanding that had to be renewed every five years.
On Thursday, Deputy Mainland Affairs Council Minister Lin Chu-chia said that the agreement will increase the international competitiveness of Taiwan’s aviation industry.
Lin said that the agreement and the memorandum of understanding it is replacing have the same conditions. But he said that the agreement represents an upgrade in relations between Taiwan and Macau.
The original memorandum of understanding was signed by the aviation authorities of the two sides. However, the newly signed agreement is a formal agreement signed by representative offices from both sides.
Taiwan, Macau sign agreement preventing double taxation of aviation industry
Taiwan and Macau have signed an agreement that will prevent double taxation of the aviation industry.
The agreement, signed Thursday, is a permanent replacement of an earlier memorandum of understanding that had to be renewed every five years.
On Thursday, Deputy Mainland Affairs Council Minister Lin Chu-chia said that the agreement will increase the international competitiveness of Taiwan’s aviation industry.
Lin said that the agreement and the memorandum of understanding it is replacing have the same conditions. But he said that the agreement represents an upgrade in relations between Taiwan and Macau.
The original memorandum of understanding was signed by the aviation authorities of the two sides. However, the newly signed agreement is a formal agreement signed by representative offices from both sides.