Tax and Secrecy – Common Reporting Standards

Not all tax information sharing processes are equal – the U.S. compels one-way information flows (without reciprocating) while the OECD’s CRS is designed to be two-way. Hong Kong has created an information-sharing exempt investment vehicle, while claiming full compliance with CRS. All jurisdictions without a powerful geopolitical protector will be squeezed, while the U.S. and Hong Kong greatly benefit.