Hong Kong grapples with FATCA and CRS compliance

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Hong Kong grapples with FATCA and CRS compliance

October 14 2014
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Hong Kong’s financial institutions are battling to become FATCA compliant by 2016. On September 15, the city also announced its cooperation with the OECD Common Reporting Standard (CRS) initiative, which allows free exchange of tax information among 70 countries. The dual burden is potentially problematic for both regulators and financial institutions.

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