News Snapshot:
Hong Kong was recently added to the EU’s grey list of non-cooperative tax jurisdictions due to concerns the city is enabling ‘double non-taxation‘ of passive income. In response, the Hong Kong government reiterated its commitment to make the requisite amendments to its tax law to comply with EU standards, a move that may have a limited impact upon some foreign enterprises in Hong Kong. Hong Kong has been added to the EU’s so-called ‘grey list’ of non-cooperative tax jurisdictions in the latest edition of its regularly updated watchlist, released on October 5, 2021. The document titled the Council conclusions on...
