Hong Kong Monetary Authority - Tax Evasion
Tax evasionThe issues of tax evasion and bank secrecy have recently assumed a higher degree of prominence within the international community, with the G20 calling for action to be taken against tax havens and finance ministers singling out for criticism jurisdictions which they consider deliberately facilitate the evasion of tax.The Hong Kong Government announced in the Financial Secretary's budget speech in February that it will be introducing legislative proposals this year to align its arrangements for the exchange of tax information with current international standards. This will, in turn, enable Hong Kong to extend its network of agreements for avoidance of double-taxation. This is regarded as important in maintaining Hong Kong's status as an international financial centre.It is also important that AIs act prudently in the conduct of their customer relationships and do not, knowingly or deliberately, aid and abet (or wittingly turn a blind eye to) unlawful tax evasion by their customers. Further, it goes without saying that AIs should not market themselves or schemes operated by them as being available for this purpose or incentivise their staff (whether through payments of bonuses or otherwise) to engage in such conduct.
Tags:
Group of Haney Hong Kong Tax Review , Tax Evasion
By:
griffden
News & Reports
112 months ago
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HMRC Campaign for Tax Evasion of Rental Income
Voters across the country are keen to see that the government is tackling the problem of unpaid taxes. Whether the problem stems from large multinational businesses like Google or McDonalds, or from individuals running small businesses and renting out as part of a buy to let scheme, the government are keen to collect the tax that they are owed.For more info, please visit at https://theaccountancysolutions.com/hmrc-campaigns-tax-evasion-rental-income
Tags:
Campaign , Evasion , HMRC , Income , Rental
By:
accountancysolutions
Entertainment
46 months ago
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