An Inland Revenue Department (IRD) spokesman today (June 30) said that the AEOI Portal would be launched on July 3 for financial institutions to furnish notifications and file returns in relation to the reporting of financial account information for automatic exchange of financial account information (AEOI) purposes.

     The Commissioner of Inland Revenue also published in the Gazette today a notice to designate the AEOI Portal as the information system for AEOI purposes pursuant to section 50I(1) of the Inland Revenue Ordinance (Cap. 112) with effect from July 3.

     Financial Institutions have to register under the AEOI Portal in order to use the online services. The users are required to use their e-Cert (Organisational) with AEOI Functions for the purposes of authentication so as to ensure confidentiality of the data being transmitted.

     A financial institution maintaining reportable accounts on or before July 3 is required to register under the AEOI Portal and submit a notification of commencement of maintaining reportable accounts no later than October 3. Financial institutions who commence to maintain any reportable accounts after July 3 should submit the required notifications through the AEOI Portal within three months from the commencement of maintaining such accounts.

     The IRD has organised seminars to familiarise financial institutions with the operation of the AEOI Portal. The Portal can be accessed through https://aeoi.ird.gov.hk from July 3. Further details are available on the IRD's webpage (www.ird.gov.hk/eng/tax/dta_aeoi.htm).

Ends/Friday, June 30, 2017
Issued at HKT 16:00

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