July 2017 - Hong Kong Becoming a Signatory to the Multilateral Instrument

As a member of the inclusive framework, Hong Kong is committed to implementing the minimum standards of recommended measures in the Base Erosion and Profit Shifting (“BEPS”) Action Plans. In order to implement the BEPS measures, three steps have to be taken:
(a) amendment of each participation country’s domestic laws,
(b) amendment of the OECD Transfer Pricing Guidelines; and
(c) amendment of existing tax treaties