제목 없음normal\'>Korea-Hong
Kong Bilateral Commissioners’ Meeting
Jeon,
Goonpyo, Commissioner of the National Tax Service of the Republic of Korea and
Alice Lau, Commissioner of the Inland Revenue Department of Hong Kong, China held
their first bilateral meeting on Friday, October 27, in Hong Kong.
This
meeting was the first of its kind between the two heads of revenues, where
experience in and views on the exchange of information were shared.
Commissioner
Lau commended the successful hosting of the 3rd OECD Forum on Tax
Administration which was held in September in Seoul. She went on to express her
appreciation for the warm reception the NTS had extended to the Hong Kong
delegation during their stay in Seoul.
Concluding
that information exchange is the enabler of combating cross-border
non-compliance, the two tax authorities agreed to actively cooperate in the
area of auditor dispatch for the purpose of information exchange between the
two countries. The two parties also decided to hold a working-level meeting to
lay out a blueprint on the scope of information to be exchanged and its
specific method.
There
is no bilateral tax treaty concluded between Korea
and Hong Kong, but given Hong Kong’s growing
presence in the international financial market (as the fourth largest market in
the world) and the size of bilateral trade, it was decided that cooperation
would work to benefit both parties.
The
Mutual Legal Assistant Agreement between Korea
and Hong Kong, as well as the Memorandum of
Understanding newly established between the two commissioners during the
meeting would provide the legal basis for strengthened cooperation in the area
of information exchange and combating tax avoidance and evasion.
Sharing
the view that this meeting helped greatly in advancing bilateral relationship,
the two revenue heads agreed to continue their discussion at the 36th SGATAR
meeting scheduled to be held in New
Zealand in November.style=\'mso-spacerun:yes\'>
