Greek Crisis Delays Ratification of Hong Kong's Tax Treaty with France

The ratification of a bilateral tax treaty between France and Hong Kong has been delayed due to the ongoing debt crisis in Europe, says the South China Morning Post.

 

The Post says that the Greek debt crisis, which France is heavily vulnerable to, is threatening to haul the European Union into another financial crisis while the rest of the world struggles to recuperate from last year's recession.

 

To satisfy international requirements set out by the OECD, Hong Kong is expected to sign at least 12 tax treaties this year.

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