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
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