Hong Kong signed treaties with six countries on March 16 for the automatic exchange of financial account information (AEOI) in tax matters.
Belgium, Canada, Guernsey, Italy, Mexico, and the Netherlands, signed the agreements with Hong Kong, which are designed to prevent tax evasion and avoidance.
“We have been seeking to expand Hong Kong’s AEOI network with our tax treaty partners. The signing of agreements with six more jurisdictions, bringing up the number of Hong Kong’s AEOI partners to a total of nine (including Japan, Korea and the United Kingdom), signifies the Government’s efforts in this drive,” a Hong Kong government spokesman said.
The Hong Kong government will later amend the list of “reportable jurisdictions” under the Inland Revenue Ordinance to include the six countries.