透明和税务信息交流全球论坛 ： 香港 （ 中国 ） 2019 （ 第二轮 ）

PEER REVIEW REPORT ON THE EXCHANGE OF INFORMATION ON REQUEST - HONG KONG (CHINA) 2019 (SECOND ROUND)

Overview of Hong Kong

This report, part of the Global Forum on Transparency and Exchange of Information for Tax Purposes, evaluates Hong Kong's compliance with international standards for exchange of information on request (EOIR). The assessment focuses on three main areas:

1. Legal and Regulatory Framework: This section examines the availability of information related to legal and beneficial ownership, identity, and accounting records.
2. Access to Information: It scrutinizes the ability of the competent authority to obtain and provide information.
3. Exchange of Information: This part looks at the mechanisms for exchanging information and the rights and safeguards of taxpayers and third parties.

Key Findings

• Availability of Information: Hong Kong demonstrates a robust legal and regulatory framework for providing information on legal and beneficial ownership, identity, and accounting records. However, improvements are needed in specific areas to ensure full compliance with international standards.
• Access to Information: The report highlights the competent authority's capacity to access and provide information effectively. However, there are suggestions for enhancing notification requirements, rights, and safeguards to better align with international best practices.
• Exchanging Information: Mechanisms for exchanging information are operational, though there are recommendations to improve the efficiency and effectiveness of requesting and providing information.

Recommendations

• Legal and Regulatory Framework:
  • Enhance clarity and specificity in legislation regarding beneficial ownership information.
  • Strengthen the record-keeping requirements for companies.
• Access to Information:
  • Improve the notification process for information requests.
  • Strengthen the rights and safeguards provided to taxpayers and third parties.
• Exchanging Information:
  • Optimize the process for handling and responding to information requests.
  • Enhance the completeness and quality of outgoing information requests.

Next Steps

Hong Kong is expected to implement these recommendations and monitor progress through ongoing engagement with the Global Forum. The report serves as a roadmap for continuous improvement in compliance with international standards for transparency and exchange of information for tax purposes.