Hong Kong has signed an agreement with Switzerland on the automatic exchange of financial account information in tax matters (AEOI), a government spokesman said on 14 July 2017.
The spokesman added that they are trying to expand the Hong Kong AEOI network with their tax agreement partners. Including the agreement with New Zealand, Hong Kong now has 15 AEOI partners. The other countries are Belgium, Canada, Guernsey, Indonesia, Ireland, Italy, Japan, Korea, Mexico, the Netherlands, New Zealand, Portugal, South Africa and the United Kingdom.
The spokesman added that the government intends to extend the application of the Multilateral Convention on Mutual Administrative Assistance in Tax Matters to Hong Kong in order to further expand AEOI network in Hong Kong. In this context the Inland Revenue (Amendment) (No. 5) Bill 2017 will be incorporated into the Legislative Council on 18 October.
