Hong Kong Will Start Accepting Bilateral APA Requests

On Jan 3, 2012, the Hong Kong Commissioner of the Inland Revenue announced during a seminar that the Inland Revenue Department (IRD) will launch an advance pricing arrangement (APA) program. The introduction of an APA program is likely to be one of the most significant developments in Hong Kong'...

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Bibliographic Details
Published inJournal of International Taxation Vol. 23; no. 4; p. 14
Main Author Chu, Sandy
Format Trade Publication Article
LanguageEnglish
Published Boston Thomson Reuters (Tax & Accounting) Inc 01.04.2012
Subjects
Advance pricing agreements
Tax services
Transfer pricing
China
Hong Kong China
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Summary:On Jan 3, 2012, the Hong Kong Commissioner of the Inland Revenue announced during a seminar that the Inland Revenue Department (IRD) will launch an advance pricing arrangement (APA) program. The introduction of an APA program is likely to be one of the most significant developments in Hong Kong's transfer pricing regime since the IRD's release of transfer pricing guidance in December 2009. While that guidance provided taxpayers much needed clarity regarding the IRD's treatment of transfer pricing, it lacked any mechanism similar to APA programs offered by many of Hong Kong's international trading counterparts.
ISSN:1049-6378