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In Canberra, Hong Kong's Secretary for Financial Services and the Treasury, K C Chan, expressed his wish to quickly start negotiations on a comprehensive double taxation agreement (CDTA) with Australia.
During his meetings with Australia's Treasurer, Scott Morrison, and the Minister for Revenue and Financial Services, Kelly O'Dwyer, Chan pointed out that Australia is one of Hong Kong's most important trading partners and that both countries have made a commitment to fulfill their international tax obligations.
One of Hong Kong's key current priorities is the 2018 implementation of the Organisation for Economic Co-operation and Development's standard for the automatic exchange of financial account information in tax matters (AEOI).
In that respect, the Government has said it will look to expand Hong Kong's network of AEOI deals with partner countries, in particular those with which it has or will sign a CDTA or a tax information exchange agreement.
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