Hong Kong Tax News Flash 

Latest developments on countering international tax evasion
  
In our previous Hong Kong Tax News Flash (i.e. Issue 3 of March 2009), we reported the call for international collaboration in respect of exchange of tax information by the Organisation for Economic Co-operation and Development ("OECD"), shared our observations of some of the recent developments in the international tax arena on this subject, and reported the steps taken by the Hong Kong Government to seek to modernise the exchange of tax information provisions of the Hong Kong tax legislation.
     
Since then and following the G20 summit held in London on 2 April 2009, a series of developments in the international arena concerning the use of a special investment vehicle located in places like Hong Kong have taken place.  This News Flash provides an update on these latest developments, including the potential impacts of the proposed anti-tax avoidance measures in the US for Hong Kong-based companies and foreign corporations (including Chinese companies) using Hong Kong as a gateway for investing from the US as well as into the US.

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Read more by downloading our Hong Kong Tax News Flash (Jun 2009, Issue 5) (pdf file, 128KB) for your reference.
 
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