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A Look At Hong Kong's New Transfer Pricing Proposal

Law360 (February 6, 2018, 9:33 PM EST) -- On Dec. 29, 2017, the Hong Kong government gazetted the Inland Revenue (Amendment) (No.6) Bill 2017 ("the bill"), proposing the codification of transfer pricing principles into law.

While transfer pricing is not a new concept in Hong Kong, before the introduction of the bill, Hong Kong did not have any specific transfer pricing legislation and had been relying on general provisions in the Hong Kong Inland Revenue Ordinance, nonlegally binding practice notes issued by the Inland Revenue Department and case law.

The bill introduces new rules...
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