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31 October 2016

Hong Kong publishes consultation paper on measures to counter BEPS

The Government of Hong Kong (the Government) announced a consultation paper on October 26, on measures to counter base erosion and profit shifting (BEPS) (the Consultation Paper), published on the Financial Services and the Treasury Bureau's website. The Consultation Paper proposes the introduction of transfer pricing rules in Hong Kong, including adoption of the three-tiered approach to transfer pricing documentation recommended by the Organisation for Economic Co-operation and Development (OECD). Additionally, key action areas include a multilateral instrument, spontaneous exchange of information of tax rulings, and dispute resolution.

A Tax Alert prepared by Ernst & Young Hong Kong's Transfer Pricing Services group, and attached below, provides additional details.

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ATTACHMENT

Full text of Tax Alert 2016-1843

Document ID: 2016-1843

 

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