Hong Kong has signed an agreement with Indonesia for conducting automatic exchange of financial account information in tax matters (AEOI). Following the agreement with Indonesia, Hong Kong now has 13 AEOI partners.
Hong Kong has been indicating its support for implementing automatic exchange of financial account information (AEOI) on a reciprocal basis with appropriate partners with a view to commencing the first exchanges by the end of 2018. The signing of the agreements brings the number of Hong Kong's automatic exchange partners in financial account information to 13.
"We have been seeking to expand Hong Kong's AEOI network with our tax treaty partners. Including the agreement with Indonesia, Hong Kong now has 13 AEOI partners. The others are Belgium, Canada, Guernsey, Ireland, Italy, Japan, Korea, Mexico, the Netherlands, Portugal, South Africa and the United Kingdom," the spokesperson said.
The Government also plans to extend the application of the Multilateral Convention on Mutual Administrative Assistance in Tax Matters to Hong Kong. An amendment bill will be introduced into the Legislative Council by late 2017. This will help further expand our AEOI network, Government of Hong Kong informed.
Sources: Government of Hong Kong
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