Regulatory Alerts2010-05-28
Added · Updated
Requests for Information from Overseas Tax Authorities
The Hong Kong Monetary Authority issued this circular to remind authorized institutions of their obligations when handling information requests from overseas tax authorities. It emphasizes the duty of confidentiality and strict compliance with the Personal Data (Privacy) Ordinance, particularly Data Protection Principle 3 which restricts the use of personal data without prescribed consent. The regulator advises institutions to obtain appropriate legal advice before deciding how to respond to such foreign requests.
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