Hong Kong financial institutions with mainland affiliates are hoping Beijing signs an agreement with Washington soon on a new US tax disclosure law. Photo: Reuters
Hong Kong financial institutions with mainland affiliates are hoping Beijing signs an agreement with Washington soon on a new US tax disclosure law. Photo: Reuters

Beijing urged to comply with Foreign Account Tax Compliance Act

While financial companies in city gear up for compliance with Fatca, those with mainland affiliates are unlikely to meet requirements

Hong Kong financial institutions with mainland affiliates are hoping Beijing signs an agreement with Washington soon on a new US tax disclosure law. Photo: Reuters
Hong Kong financial institutions with mainland affiliates are hoping Beijing signs an agreement with Washington soon on a new US tax disclosure law. Photo: Reuters
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