Hong Kong: Government signed AEOI agreement with Portugal and South Africa

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The government of Hong Kong has signed agreements with Portugal and South Africa for conducting automatic exchange of financial account information in tax matters (AEOI). A Government spokesman said on 03 April 2017 that they have been seeking to expand Hong Kong’s AEOI network with their tax treaty partners. The signing of agreements with two more jurisdictions, bringing up the number of Hong Kong’s AEOI partners to a total of eleven (including Belgium, Canada, Guernsey, Italy, Japan, Korea, Mexico, the Netherlands and the United Kingdom).

On March 2017, the government introduced the Inland Revenue (Amendment) (No. 3) Bill 2017 into the Legislative Council which seeks to include Hong Kong’s newly confirmed AEOI partners as well as prospective ones in the list of “reportable jurisdictions” under the Inland Revenue Ordinance.

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