With the legislative amendments made to the Inland Revenue Ordinance, Automatic Exchange of Financial Account Information (AEOI) in tax matters relating to MPF schemes and ORSO registered schemes will take effect on 1 January 2020. Therefore, holders of all new MPF and ORSO accounts opened on or after 1 January 2020 will be required to submit a self-certification to verify their tax residency. Otherwise, the account opening process will be adversely affected and could not be completed.
As a reporting financial institution, BCT will comply with the due diligence and reporting obligations relating to the AEOI. To facilitate you to learn the details of the new arrangement, please view the quick guide "AEOI in Tax Matters and How It May Impact You". You can also go to our dedicated AEOI webpage for more details.