The impact of Hong Kong SAR being added to the EU’s ‘grey-list’
Hong Kong has been included on the EU’s tax ‘grey-list’ which has potential implications to its territorial tax system and businesses operating here.
Hong Kong has been included on the EU’s tax ‘grey-list’ which has potential implication...
Effective from 5 October 2021, the EU has added Hong Kong SAR to its tax ‘grey-list’ following a review of the Foreign-Source Income Exemption Regimes. This means that the EU considers aspects of Hong Kong’s territorial tax system may facilitate tax avoidance or other tax practices they regard as harmful.
In this webcast, KPMG China’s Ivor Morris, Anita Tsang and David Sutton discuss the impact of Hong Kong SAR’s inclusion on the EU’s ‘grey-list’, the EU’s key concerns and the potential changes to Hong Kong SAR’s territorial tax system.