CRS/ AEOI: Hong Kong bill gazetted

CRS/ AEOI: Hong Kong bill gazetted

Hong Kong Tax Alert - Issue 1, January 2016

Hong Kong Tax Alert

The Hong Kong government gazetted the Inland Revenue (Amendment) Bill 2016, which seeks to provide the legal framework for Hong Kong to implement the OECD’s standard for automatic exchange of financial account information (AEOI). In particular, the Bill provides for the wider approach to be adopted by FIs in Hong Kong in carrying out due diligence procedures in relation to financial accounts even if the account holder is not a tax resident of a reportable jurisdiction.

It is expected that the Inland Revenue (Amendment) Bill 2016 will be introduced into the Legislative Council for first reading on 20 January 2016.

© 2024 KPMG Huazhen LLP, a People's Republic of China partnership, KPMG Advisory (China) Limited, a limited liability company in Chinese Mainland, KPMG, a Macau (SAR) partnership, and KPMG, a Hong Kong (SAR) partnership, are member firms of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.

The KPMG name and logo are trademarks used under license by the
independent member firms of the KPMG global organisation.

For more detail about the structure of the KPMG global organisation please visit


Connect with us

Stay up to date with what matters to you

Gain access to personalized content based on your interests by signing up today