Legislative bill introduced to enable Hong Kong to enter into standalone TIEAs with other jurisdictions [TAX ALERT]June 19, 2013
Under the latest international standard on tax transparency, a jurisdiction should be prepared to exchange information in respect of taxpayers on a reciprocal basis pursuant to a comprehensive avoidance of double taxation agreement (CDTA) or a standalone tax information exchange agreement (TIEA).
Furthermore, a jurisdiction’s preference for a CDTA over a TIEA cannot constitute a reason for not entering into a TIEA if the other jurisdiction requests a TIEA.
Further details are available from the Ernst & Young Tax Alert which can be accessed using the link below:
- Legislative bill introduced to enable Hong Kong to enter into standalone TIEAs with other jurisdictions (PDF, 914KB)
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