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Impact of AEOI (CRS) and BEPS on Hong Kong Taxpayers

Hong Kong, together with 100 other jurisdictions around the world, has committed to the Automatic Exchange of Financial Account Information (AEOI) under the Common Reporting Standard (CRS), and is currently in the process of implementing it. Account holders may be requested to provide self-institutions to identify the reportable accounts.

Besides, on 26 October 2016, the Hong Kong SAR Government launched a public consultation on implementing measures to counter Base Erosion and Profit Shifting (BEPS), after joining as an Associate in the inclusive framework for implementation of BEPS package. The consultation includes thresholds for Hong Kong companies to prepare Transfer Pricing Documentation. During the s...eminar, AWAHK will consult participants for comments on the thresholds.

On 23 Nov, 3 speakers from PWC shared with us insights of
Snapshot of CRS and what it means to corporations other than financial institutions and to individuals
Overview of BEPS Action Plans and the direction of implementation in Hong Kong