Overview
Hong Kong Releases Consultation Paper on Automatic Exchange of Information:
Today, Hong Kong released a consultation paper containing proposals to implement automatic exchange of financial account information in tax matters. In a press release, Hong Kong’s Secretary for Financial Services and the Treasury, Professor K C Chan, stated that “Hong Kong will adopt a pragmatic approach to legislate for all essential requirements of the OECD standard on [automatic exchange of information], and will ensure effective implementation of the new standard.”