The Inland Revenue (Amendment) (No. 2) Ordinance 2017 (the "Amendment Ordinance") came into operation on 1 July 2017.
The Amendment Ordinance is mainly to –
- amend the definition of reportable jurisdiction so that reportable jurisdictions can include territories outside Hong Kong irrespective of whether they are parties to arrangements having effect under section 49(1A) of the Inland Revenue Ordinance and requiring disclosure of information concerning tax of the territories.
- add 73 jurisdictions to the list of reportable jurisdictions (in addition to the 2 jurisdictions already included in the current list).
Click here to view full content of the Amendment Ordinance.