Japan exchanged Notes with the Hong Kong Special Administrative Region on 10 December 2014 regarding the expansion of the coverage of tax types under the exchange of information arrangement of the Agreement between the Government of the Hong Kong Special Administrative Region of the People’s Republic of China and the Government of Japan for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income. Please click here for the details.
The Agreement between the Government of the Hong Kong Special Administrative Region of the People’s Republic of China and the Government of the United States of America for the Exchange of Information relating to Taxes (“the Agreement”) was formally signed on 25 March 2014.
According to Article 10 of the Agreement, the Agreement shall, upon the written notification by Hong Kong to the United States of the completion of its necessary internal procedures, enter into force on the date of the notification.
For the purpose of giving effect to the Agreement, an Order was made by the Chief Executive in Council on 15 April 2014, under section 49(1A) of the Inland Revenue Ordinance. The Order was published in the Gazette as Legal Notice 54 of 2014. The Order was laid before the Legislative Council for negative vetting on 30 April 2014. The vetting period expired on 28 May 2014 and no resolution was made by the Legislative Council to amend the whole or any part of the Order. Thereafter, the Order came into operation on 20 June 2014. On 20 June 2014, Hong Kong sent a notification to the United States confirming the completion of the requisite internal procedures. The Agreement therefore came into force on 20 June 2014 and shall have effect for requests in respect of any period that starts on or after 20 June 2014, and for all charges to tax arising on or after 20 June 2014.