Hong Kong retirement funds may be exempt from Fatca
The largest pension schemes in Hong Kong can potentially be exempted from Fatca after being judged by the US to be low risk for tax evasion
Final Fatca regulations released on January 17, 2013 include concessions that will mean Hong Kong retirement funds - Mandatory Provident Funds (MPF) and Occupational Retirement Schemes Ordinance (Orso) funds - may well be exempted from having to comply with the rules, say market participants.
Fatca - the Foreign Account Tax Compliance Act - requires foreign financial institutions to identify any US account holders they may have, and disclose their account details to the US Internal Revenue
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