Automatic exchange between Hong Kong and continental China

On September 6^th, 2018, an Agreement on the automatic exchange of financial information for tax purposes between Hong Kong and continental China has entered into force. Consequently, information on Bank accounts, beneficiaries and controlling persons will be exchanged between countries.

Additionally, Hong Kong will also automatically exchange information with 49 jurisdictions, including Russia, on the basis of bilateral agreements or the Convention on mutual administrative assistance in tax matters.

Automatic exchange of tax information with Russia is activated for tax periods beginning from January 01^st, 2019.

On materials of the following website: https://www.info.gov.hk/gia/general/201809/11/P2018091100584.htm