Hong Kong releases update for AEOI Guidance

On 4 April 2019, the Inland Revenue Department of Hong Kong (“IRD”) updated chapter 18 of the Hong Kong Guidance for Financial Institutions (Link), which is intended to aid financial institutions in complying with their obligations under Part 8A of the Inland Revenue Ordinance (Cap. 112). It contains the Department’s views on the due diligence procedures required by the Common Reporting Standard (“CRS”) of the Organisation for Economic Co-operation and Development (“OECD”).

More information on AEOI in Hong Kong is provided on the government’s information webpage (Link).

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