Submissions and Reports

In its submission to the LegCo Bills Committee on implementing a legal framework to combat Base Erosion and Profits Shifting (BEPS) practices in Hong Kong, the Chamber has raised concerns over a number of outstanding issues with the Government’s proposed approach to align with international standards.

The Chamber supports the Government’s pursuit of CDTA especially with jurisdictions that fall within the scope of the Belt and Road Initiative as this could further enhance Hong Kong’s role as a super-connector between Mainland China and economies in Asia, Europe and Africa.

The Chamber has submitted its views to a government consultation on proposed measures to counter Base Erosion and Profit Shifting (“BEPS”) in Hong Kong. The Chamber calls on the Government to do its utmost in striking a balance between protecting local interests and aligning with international standards when implementing the BEPS package in Hong Kong so as to avoid undue compliance burden to enterprises.

The Chamber’s response to the Government’s proposed amendments to the Companies Ordinance and its subsidiary legislations is as given in the attached paper.

The Chamber’s proposals for Hong Kong to capitalise on the national initiative of Belt and Road by leveraging on its competencies in the field of financial services are set out in the attached.

The Chamber support the pursuit of CDTA with the jurisdictions on the attached list for the purpose of further enhancing Hong Kong’s role as a “super connector” for the flow of trade and investments from Mainland China to countries along Asia, Europe and Africa.