Details of the Hong Kong - Italy Income Tax Agreement (2013) (the Treaty), signed on 14 January 2013, have become available. The Treaty was concluded in the English and Italian languages, each text having equal authenticity. The maximum rates of withholding tax are: -   10% on dividends; -   12.5% on interest, subject to exceptions; and -   15% on royalties. Deviations from the OECD Model include that: -   a building site, a construction, assembly or installation project or supervisory activities in connection therewith, constitutes a permanent establishment only if such site, project or activities continue for a...