The Government has publicly welcomed the recent approval by the Legislative Council of the ‘2026 Tax (Amendment) (Automatic Exchange of Information) Bill’, a landmark piece of legislation that cements Hong Kong’s commitment to global tax transparency. The bill obliges financial institutions to collect and transmit tax‑related information on foreign account holders to partner jurisdictions, in line with the Common Reporting Standard and the OECD’s AEOI framework. By adopting the bill, Hong Kong seeks to reinforce its reputation as a trustworthy and cooperative financial hub, facilitating cross‑border tax compliance and mitigating the risk of reputational damage. The government highlights that the new provisions will enable the automatic exchange of data on interest, dividend, and capital‑gain income, thereby enhancing the ability of tax authorities to detect offshore tax evasion. Implementation is set to commence on 1 January 2027, with a transition period allowing institutions to adjust their reporting systems. The administration also announced a series of capacity‑building workshops for banks and other reporting entities, emphasizing the importance of accurate data extraction and secure transmission channels. While some opposition legislators expressed concerns about the potential burden on smaller firms, the minister overseeing the bill reassured that transitional support and technical assistance will be made available to ensure a smooth rollout.