Transcription of Consultation on Automatic Exchange of Financial Account ...
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Consultation on Automatic Exchange of Financial Account ...
- 1 - Consultation Paper on Automatic Exchange of Financial Account information in Tax Matters in Hong Kong - 2 - EXECUTIVE SUMMARY Exchange of information ( EOI ) for tax purposes is an important avenue to enhance tax transparency and combat cross-border tax evasion. As an international Financial centre and a responsible member of the international community, Hong Kong has committed to enhancing the tax regime to facilitate Exchange of tax information with other jurisdictions in accordance with the international standard promulgated by the Organisation for Economic Cooperation and Development ( OECD ). 2. It has been the Government s priority to conclude comprehensive avoidance of double taxation agreements ( CDTAs ) with Hong Kong s trading and investment partners to facilitate business and minimize the incidence of double taxation.
“Standard for Automatic Exchange of Financial Account Information in Tax Matters” (“AEOI”), calling on governments to collect from their financial institutions financial account information …
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