Automatic Exchange of Tax Information in Hong Kong
香港税务情报自动交换
By Victor Tu
Recently many clients call us to inquire the rules about the tax information automatic exchange in Hong Kong from January 1, 2017. Some of them are surprised and some are anxious about this rule. Today, we would like to brief the basic principles of the rules.
近来有很多客户向我们咨询关于将于2017年实施的香港税务情报自动交换的制度。对于此制度，他们或感疑惑，或感焦虑。那么今天我们来阐述一下关于该制度的基本原则。
Background
相关背景
Subsequent to the Organization of Economic Cooperation and Development (OECD) releasing the full version of the Standard for Automatic Exchange of Financial Account Information in Tax Matters (AEOI), including the Commentary on the Common Reporting Standard (CRS) in July 2014, About 100 countries have committed to the implementation of the new standard. Currently, more than 60 countries (including Cayman Islands, BVI and Bermuda) have committed to early adoption of the CRS and undertake the necessary due diligence (DD) beginning in 2016 with reporting starting in 2017.
继经济合作与发展组织（OECD）发布了完整版本的金融账户税务信息交换准则（AEOI），和2014年7月的对通用报告准则（CRS）的注释后，有约100个国家承诺实施该项新标准。目前，已有超过60个国家（包括开曼群岛，英属维尔京群岛和百慕大）成为通用报告准则的早期实施地区，并已于2016年开始了为必要的尽职调查，并将于2017年进行报告。
With the global trend of moving towards greater tax transparency, The Chinese and HKSAR Government have committed to adopting the CRS and AEOI.
在税务公开透明化的全球化趋势下，中国和香港特别行政区也承诺采纳通用报告准则和金融账户税务信息交换准则。
The mainland China has released the rule called Administration of Non-Tax Resident Due Diligence on Financial Account information in Tax Matters（Exposure Draft, deadline is October 28, 2016） on October 15, 2016.
中国大陆已经在2016年10月15号颁布了《非居民金融账户涉税信息尽职调查管理办法（征求意见稿）》(截止日为2016年10月28日)。
The Hong Kong Government has modified its Tax Code and released Inland Revenue (Amendment) (No.3) Ordinance 2016 on June 30, 2016.
香港政府也修订了其税务条例，并于2016年6月30日发布了《2016年税务（修订）（第3号）条例》
Today, we will be only focused on the new rules applied in Hong Kong.
今天，我们只关注在香港实施的新条例。
l Overview of the CRS in Hong Kong
香港通用报告准则简要
1. Who to report-Financial Institutions： custodial institution、depository institution、investment entity、specified insurance company
需履行申报义务的机构-金融机构：托管机构、存款机构、投资实体、特定保险公司。
2. Whose account information is collected-Reportable persons: individuals and entities (which include trusts and foundations) as well as Non-financial entities (NFEs)’s ultimate controlling persons.
哪些人或机构的信息将会被收集-被报告者：个人和机构（包括信托和基金），以及那些非金融机构的最终控制者。
3. What kind of information is collected and exchanged: investment income (including interest, dividends, income from certain insurance products, proceeds from financial assets, etc.), account balances, payment, general information (such as name, address, taxpayer identification number, date of birth etc.)
哪些信息将会被收集及交换：投资收益（包括利息、分红、和某些特定保险产品所得和金融资产收益等）、账户余额，支付信息，一般信息（比如姓名、地址、纳税人识别号、出生日期等等。）
l Due Diligence of the accounts from Financial institutions 金融机构账户尽职调查
Individual’ accounts | Entity’ accounts | |||||
Pre-existing | New | Pre-existing | New | |||
Threshold | Lower Value Accounts | Higher Value Accounts | No threshold | Lower Value Accounts | Higher Value Accounts | No threshold |
Actions from Financial Institutions | l the permanent residence address test l or self-certification l or all reporting jurisdictions search | l An actual knowledge test | A self-certification and subsequent confirmation of its reasonableness is required. | l Determine if it itself is a reportable person l If it is a passive NFE(the controlling persons) l Self-certification | Same procedures as pre-existing accounts | |
项目 | 个人账户 | 机构账户 | ||||
已存在账户 | 新设账户 | 已存在账户 | 新设账户 | |||
准入门槛 | 无准入门槛 | 低净值账户 | 高净值账户 | 无准入门槛 | ||
金融机构采取的措施 | l 或自我证明 l 或在所有国家内匹配 | l 书面记录调查 l 实际信息测试 | 自我证明以及后续证明其合理性 | 允许不受审查 | l 是否为消极金融机构（调查实际控制人） l 自我证明 | 同已存在账户 |
Note: 1. Pre-existing accounts and New means prior to January 1, 2017 or after.
已存在账户或新设立账户是指2017年1月1日之前或之后。
2. Lower Value Accounts means less than USD 1,000,000 for individual accounts and USD250,000 for Entity accounts.
低净值账户是指余额少于1,000,000美元的个人账户或余额少于250,000美元的机构账户。
3.Higher Value Accounts means more than USD 1,000,000 for individual accounts and USD250,000 for Entity accounts.
高净值账户是指余额多于于1,000,000美元的个人账户或余额多于250,000美元的机构账户。
4. Self-Certification means the accounts holder must submit the documents which determines the jurisdiction of residence (tax) 自我证明是指账户持有者必须执行呈报自己属于纳税居民的所在国家或地区。
l Expected CRS timeline for Hong Kong
l 预期的香港通用报告准则实施时间表
Timeline | Actions |
January 2017 | New and pre-existing accounts due diligence procedure |
September 2017 | FIs to register with the IRD |
December 2017 | Due Diligence for high value individual accounts completed. |
January 2018 | IRD to issue AEOI Returns to FIs |
May 2018 | FIs to file AEOI returns to IRD |
December 2018 | First Exchange of information to partner jurisdictions |
时间表 | 行动内容 |
2017年1月 | 针对新设账户和已存在账户的尽职调查 |
2017年9月 | 完成金融机构在税务局的备案注册 |
2017年12月 | 完成对高净值账户的尽职调查 |
2018年1月 | 税务局发布要求金融机构填写的税务信息交换的表格 |
2018年5月 | 金融机构向税务申报税务信息交换的表格 |
2018年12月 | 与签署合作协议的国家开展第一次税务信息交换 |
In a word, both mainland China and Hong Kong have similar rules applied in the following two years. If you have any questions or concerns or would like to know more about the rules, please feel free to contact us on victor.tu@victortruman or (0086) 139 5786 1900.
总之，无论是中国大陆还是香港将在未来两年内实施类似的条例。如果你有任何问题或是疑虑，亦或是想要更多地了解该条例，请随时与我们联系，可通过发送邮件至我的邮箱victor.tu@victortruman或是直播拨打我们的电话(0086) 139 5786 1900。
Keywords: Ningbo accounting, Ningbo Auditor, Ningbo accountants, Ningbo CPA
关键词：宁波会计，宁波审计，宁波会计师，宁波涉外会计，宁波注册会计师
Victor & Truman，CPAs 宁波纬度会计师事务所（普通合伙）
