CE pledges to plug tax loopholes
04-04-2009
The Chief Executive, Donald Tsang, has pledged action to close any loopholes in Hong Kong's financial system.
Mr Tsang was commenting on calls made by G20 countries to crack down on tax havens.
The Organisation for Economic Cooperation and Development says Hong Kong and Macau have so far only "committed to implement" new standards on exchanging tax information and clamping down on tax evasion.
Mr Tsang said legislative changes would be introduced later this year. The OECD blacklisted four countries - Malaysia, the Philippines, Costa Rica and Uruguay.
It also praised China for substantially implementing internationally agreed tax standards.
