Transfer Pricing News Flash

Jul 2016

Hong Kong has joined the inclusive framework for implementation of the BEPS package

Hong Kong will join the inclusive framework for implementation of the Base Erosion and Profit Shifting (BEPS) package. This may affect taxpayers going forward in terms of structure/operation as well as potential compliance requirements. Hong Kong is committed to the Organisation for Economic Co-operation and Development’s (OECD's) BEPS framework via its status as an ‘Associate’, which means it has equal footing with the OECD, G20 countries and other countries to implement the BEPS package and to develop associated standards. Analysis on the BEPS package is being conducted by the Hong Kong Special Administrative Region (HKSAR) Government, so at this stage, details regarding implementation such as timing, legislative framework etc., are still being developed.

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