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With inspection looming, Hong Kong could abandon bilateral approach to CRS preparations, says lawyer

Hong Kong will likely abandon its bilateral approach to signing ‘tax treaties’ in order to fast-track its preparations for the common reporting standard (CRS) regime, given that the Financial Action Task Force (FATF) will evaluate its progress next year, a lawyer says. “Hong Kong may be changing from a bilateral approach to a multilateral approach,” says Joanna Caen, senior consultant…

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