Author: suzanne0449
Hong Kong – SARG welcomes consensus largely reached on BEPS 2.0 framework
SARG welcomes consensus largely reached on BEPS 2.0 framework ************************************************************* With a view to addressing the base erosion and profit shifting (BEPS) risks arising from the digitalisation of economy, the Organisation for Economic Co-operation and Development (OECD) announced yesterday (July 1) the framework for international tax reform (commonly referred to as BEPS 2.0) to ensure a fairer distribution of taxing rights in respect of profits of large multinational enterprises (MNEs) and to set a global minimum tax rate. A total of 130 jurisdictions globally (including Hong Kong) have indicated acceptance of the package. The Financial Secretary, Mr Paul Chan, said, “As ... Read more