The OECD has updated its list of notifications relating to the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (BEPS MLI) to confirm that it was formally notified on 21 February 2023 that the internal procedures for entry into effect of the BEPS MLI in Hong Kong have now been completed with regards to 31 of Hong Kong’s treaty partners, including the UK.
The 2010 UK-Hong Kong Double Taxation Agreement is a tax agreement covered under the BEPS MLI. Alterations to the treaty’s operation (including the introduction of a principal purpose test) will take effect following the BEPS MLI’s commencement provisions.
Related content from Claritax Books
Living and Working Abroad, by Juliet Connolly and Jon Golding, offers practical guidance on tax and related matters for British individuals going to live and/or work abroad. The book complements the Claritax Books title Advising British Expats, which is more technical and which is aimed more specifically at the professional adviser.
