In an agreement signed yesterday as part of Washington’s global crackdown on tax evasion, Hong Kong tax officials will soon be able to pass information about the finances of Americans working in Hong Kong to US tax authorities “under specified conditions.”
Without an intergovernmental agreement, financial institutions that provided the information might breach privacy laws. Cathay pilots said they were concerned about privacy issues and commented that it seems to be against Hong Kong privacy laws.
Source: SCMP
Photo: eGuide Travel, Flickr
