Hong Kong retirement funds may be exempt from Fatca


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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