Notes exchanged between Japan and Hong Kong confirming the understanding that information concerning additional taxes will be exchanged between the countries have entered into force as of July 6, Hong Kong’s Inland Revenue Department has announced.
The additional taxes exchanged will be the Japanese inheritance tax, gift tax, consumption tax; and any similar taxes later imposed according to the note, which was signed on December 10. The changes will apply to tax year beginning 2016–2017.
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