Tax Information Exchange Agreements Hong Kong

April 13, 2021

Prior to the enactment of the law, Hong Kong could only exchange tax information with jurisdictions with which it had entered into a complete circumvention of the Double Taxation Agreement (“CDTA”). Hong Kong is currently a signatory to 29 CDTAs. The adoption of the law follows a recommendation from the Global Forum on Transparency and Information Exchange on Tax Rules (OECD Global Forum), an intergovernmental body set up to ensure the implementation of internationally agreed standards for tax information exchange and transparency. There is no significant difference in the extent of the exchange of information and (2) the guarantees of confidentiality and protection of the privacy rights of subjects between article TIEA and article EOI of a CDTA. As noted in the revision of DIPN 47, privacy and privacy protections (disclosure of information), such as the reporting and verification system, which allows subjects to be informed of the exchange of information and request a change in the information to be exchanged, etc., are defined in the domestic revenue regulation (publication of information). , also applied to LA TIEA and CDTAs. In summary, the HK-US TIEA ITER ITER IMT IN HONG Kong the possibility of providing certain information that could be considered as part of a future HK-US IGA, at the request of the U.S. tax authorities. In this regard, legal systems may be based on a bilateral agreement between the competent authority for the implementation of the automatic exchange of information in accordance with the common standard of notification or automatic exchange of reports by country on a TIEA, particularly in cases where it is not (yet) possible to automatically exchange information through the relevant authority within the framework of a relevant multilateral agreement. This agreement, published in April 2002, is not a binding instrument, but includes two models of bilateral agreements.

Many bilateral agreements are based on this agreement (see below). With the permission of PricewaterhouseCoopers Ltd., a unit established in Hong Kong, was reprinted. Copyright 2014 PricewaterhouseCoopers Ltd. All rights reserved. The information contained in this article, compiled on the date indicated in the article and based on the applicable laws at the time and the information available, is only general in nature and readers should engage specifically in their circumstances by their professional advisors. The agreement was born out of the OECD`s work on combating harmful tax practices.

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