The Government of the Hong Kong Special Administrative Region of the People’s Republic of China and the Government of the Faroes signed an agreement regarding exchange of information relating to tax matters on 22 August 2014. The Faroes concludes this agreement on behalf of the Kingdom of Denmark pursuant to the Act on the Conclusion of Agreements under International Law by the Government of the Faroes,
Under the agreement, contracting parties shall provide assistance through exchange of information that is foreseeably relevant to the administration and enforcement of the internal laws of the Contracting Parties concerning taxes covered by this Agreement. Such information shall include information that is foreseeably relevant to the determination, assessment and collection of such taxes, the recovery and enforcement of tax claims, or the investigation or prosecution of tax matters.
The agreement will enter into force after the contracting parties complete their constitutional and legal procedures and notify each other in writing of the completion.
