On 26 October 2016, the Hong Kong Inland Revenue Department announced the launch of a public consultation on the implementation of measures developed as part of the OECD BEPS Project. In particular, Hong Kong's priority is to put in place the necessary legislative framework for:
- Spontaneous exchange of information on tax rulings (Action 5);
- Specific transfer pricing rules that cover the latest guidance from the OECD (Actions 8 to 10), including the introduction of:
- A fundamental transfer pri…