Hong Kong coaxed on savings tax

Hong Kong coaxed on savings tax

Hong Kong and Macao urged to pass information on interest earned by Europeans on foreign savings

The EU’s executive body has urged Hong Kong
and Macao to help it to tax interest earned by EU citizens in the Chinese
regions.

Hong Kong is reluctant to share information however, that it does not collect
itself, the FT reported.

The moves are part of an attempt to broaden the
EU savings tax directive,
which enables greater information sharing to enforce tax compliance.

Thomas Rose, the Commission’s envoy to Hong Kong and Macao, made the appeal
yesterday.

Further reading

EU’s evasion crackdown fails
to live up to tough guy image

EU website

Financial Times

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