Localization Of CRS And Evolution Of Hong Kong's Tax Information Exchange Rules

This paper takes Hong Kong's institutional design under the context of international tax information exchange as the research object,mainly concentrating on the evolution of Hong Kong's tax information exchange rules since its return to China in 1997,along with the impact of CRS localization on Hong Kong's tax information exchange rules.The full text is divided into three chapters.The first chapter illustrates the generation,internal requirements and implementation status of CRS,with a view to providing an international background for the following discussion,and then briefly outlines the characteristics of Hong Kong's tax information exchange rules at two different stages,namely before and after 2010 when the CRS has not been introduced.The second chapter begins with the changes initiated by the Standard for Automatic Exchange of Financial Account Information in Tax Matters in 2014,focusing on the changes,including the introduction of the standard,the establishment of specific rules for the automatic exchange of financial account information in tax matters,and the security measures and confidentiality arrangements in the exchange process,in the tax information exchange rules of Hong Kong during the process of implementing the localization of CRS after the introduction of the standard,The third chapter examines the Hong Kong's tax information exchange rules under the latest international standards of tax transparency.By comparing Hong Kong's current tax information exchange rules with the OECD's requirements for assessing tax transparency,it is revealed that the main problems embedded in Hong Kong's tax information exchange rules are insufficient accessibility of information,coupled with the inadequate protection of taxpayers,rights to privacy and participation.Then,by combining the international development trend with the local characteristics of Hong Kong,proposals for the future development of the Hong Kong's tax information exchange rules are came up with from the perspective of legislative amendments.