Hong Kong is the seventh-largest U.S. agricultural market, with sales of $3.6 billion in 2015. Main imports include beef, pork, fresh fruit, poultry and tree nuts. Hong Kong is categorised by the US State Department as a Country/Jurisdiction of Primary Concern in respect of Money Laundering and Financial Crimes. To facilitate CbC reporting, the Department has developed the CbC Reporting Portal for Hong Kong Entities to: To access the CbC Reporting Portal, please click here. $11.8 billion or 1.9% of its overall imports. This publication contains commodity codes classified under Hong Kong Harmonized System (HKHS). the group has constituent entities or operations in two or more jurisdictions. The most recent imports of Hong Kong are led by Integrated Circuits ($146B), Broadcasting Equipment ($44.8B), Office Machine Parts ($29.7B), Telephones ($20.7B), and … Hong-kong Imports-by-country - তথ্য - অর্থনীতির সূচক. Found inside – Page 48Higher - priced U.S. imports from Hong Kong and other Far East countries are probably for u.s. consumption or shipment to other consuming countries , whereas most u.s. imports from some countries , such as Latin American countries ... Although Hong Kong is a duty-free destination, and only tobacco, alcohol and hydrocarbon oil is liable for customs taxation, it does not mean that the process to import goods is simple. the Reportable Group has authorized a constituent entity as its surrogate parent entity (SPE) to file CbC Report on behalf of the Group, and the CbC Report is filed by the SPE in Hong Kong or a jurisdiction which has an exchange arrangement in place with Hong Kong. There is also no requirement that these enquiries must relate specifically to potential risks identified through the use of CbCR information. Hong Kong's Development; The following source covers the history of Hong Kong from its colonization in 1839 to its return to China in 1997. View 8 shipments from bill of entry filed at India from Hong-kong customs. the UPE is not required to file a CbC Report in its jurisdiction of tax residence; the jurisdiction has a current international agreement with Hong Kong providing for automatic exchange of tax information but, by the deadline for filing the CbC Return, there is no exchange arrangement in place between the jurisdiction and Hong Kong for CbC Reports; there has been a systemic failure to exchange CbC Reports by the jurisdiction, which has been notified to the Hong Kong Entity by the Commissioner. Under this standard, a multinational enterprise group (MNE Group) is required to file a CbC Report in relation to an accounting period where: The CbC Report requires aggregate tax jurisdiction-wide information relating to the global allocation of the income, the taxes paid, and certain indicators of the location of economic activity among tax jurisdictions in which the MNE Group operates. 1. Fresh/ frozen pork and lamb products. Found inside – Page 465U.S. imports of wool wearing apparel , 1951-60 Year All countries Japan Hong Kong Year All countries Japan Hong Kong 1951 . 1952 1953 1954 . 1955 . $ 4 , 367 , 290 4 , 505 , 154 4,473 , 497 3,915 , 186 4,519 , 123 $ 184 , 171 244 ... Hong Kong imports for 2017 was $641.23B, a 8.19% increase from 2016. For this item, exporters are advised to work closely with importers to ensure requisite import permits are issued by appropriate Hong Kong officials. . The requirements for filing a CbC Return, which includes a CbC Report, only apply to a MNE Group whose annual consolidated group revenue reaches the specified threshold amount, i.e. India's exports to Hong Kong amounted to. economic and statistical analysis where appropriate. In this regard, the Department will limit the use of CbCR information to risk assessment and making of enquiries in the course of a tax audit or investigation. A CbC Report (which forms part of a CbC Return) must be made in the form of an XML document. This page displays a table with Hong Kong Imports By Country in U.S. dollars, according to the United Nations … Hong Kong. India's exports to Hong Kong amounted to. eggs in Hong Kong come from the Mainland. BIS Updates Hong Kong Recordkeeping FAQs Consistent with Removal of Hong Kong from EAR Country Chart The E.O. If you have any question regarding CbC reporting, you may send your enquiry to the following e-mail address: deadline, which is the date on which a period of 12 months after the end of the accounting period expires. Hong Kong Q2 Industrial Output Growth at 10-½- Year High, Hong Kong Private Sector PMI Highest in 7-1/2 Years, Hong Kong Jobless Rate Nears Pre-Pandemic Levels, Hong Kong Economy Contracts Over Prior Quarter, Copper Pulls Back Below $4.4 as Supply Concerns Ease, Poland Current Account Deficit Larger than Forecast, South African Stocks Up as Covid Restrictions Ease, UK Stocks Bounce from Worst Week since Mid-August, European Shares Gain for 1st Time in Five Sessions, US Inflation Expectations Reach Record 5.2%. Hong Kong's main import partner countries include China, Singapore and Japan. Until recently, Washington had treated imports from Hong Kong differently to goods from the rest of China, in recognition of the city's semi-autonomous status. Hong Kong is a re-export hub for fruit trade to China. The HK UPE is required to file a CbC Return for each accounting period beginning on or after 1 January 2018. The … This page displays a table with Hong Kong Imports By Country in U.S. dollars, according to the United Nations COMTRADE database on … Thus, Hong Kong imports are not subject to Section 301 duties, and importers should continue to report Hong Kong as the country of origin when required. Hong Kong has experienced prior waves of emigration, notably ahead of its 1997 return to China when thousands obtained foreign residency or passports from places like Canada and Australia. U.S. goods exports to Hong Kong in 2019 were $30.8 billion, down 17.5% ($6.5 billion) from 2018 but up 46.2% from 2009. On December 23, 2020, pursuant to Executive Order 13936, BIS published a regulatory amendment confirming that exports, reexports and transfers … Electronic equipment: $274.6 million. To mitigate the Local CbC Filing exposure of HK Reportable Groups, the HK UPE of such a group may voluntarily file a CbC Return for an Early Reporting Period to the Department such that the CbC Report included therein can be exchanged with relevant jurisdictions. Last published date: 2021-03-04. The United States is a key food supplier for Hong Kong. Hong Kong was the United States' 15th largest goods export market in 2019. Hong Kong Imports By Country. Found inside – Page 531Any claim of additionality under the barter program is at best valid only for countries with balance - of - payment difficulties and import control . Japan , Hong Kong , Australia , Canada , and the major cotton consuming countries of ... For a Reportable Group with more than one Hong Kong Entity, a Hong Kong Entity is not required to make a notification provided that it is not the entity which is to file a CbC Return and another Hong Kong Entity has already made the notification. The excise tax on distilled spirits is 100 percent, and the rate for unleaded gasoline is US$0.78 per liter. Found inside – Page 148Annual supplement: country by commodity Hong Kong. ... ITEMS EACH OF < $ 10 , 000 35 27 , 297 29 4 , 400 21 , 676 1 , 320 SITC SECTION DIVISION AND GROUP SITC SECTION DIVISION AND GROUP HONG KONG IMPORTS Imports, country by commodity 1-148. For Hong Kong importation information, please go to the following website.. For all health certificates submitted through VEHCS for shipments of U.S. origin animals … prohibition against the import of charcoal from Somalia; . Effective from 1 April 2019, the Department does not accept voluntary filing of a CbC Return for an accounting period ended on or before 31 March 2018. Ground beef (excluding ineligible product as stated in B.1. The Report also requires a listing of all the constituent entities for which financial information is reported, including the jurisdiction of incorporation of each of the constituent entities (if different from the tax jurisdiction of residence) and the main business activities carried out by that entity. You may find out more information about the exchange relationships between Hong Kong and other jurisdictions for the exchange of CbC reports at the OECD's website: https://www.oecd.org/tax/beps/country-by-country-exchange-relationships.htm, Appropriate Use of Information in Country-by-Country Reports. According to the latest statistics, 23.5% of all food and over 50% of all fresh food which had been imported into Hong Kong came from China. Please note that an authorized person of the SP or the PRM must also possess an e-Cert (Organisational) with AEOI Functions for authentication purposes. a CbC Return for the relevant accounting period is filed by another Hong Kong Entity of the Reportable Group; or. This section provides a quick glance of the policy on import and export of goods. Found inside – Page 12The value of merchandise imports in the full year 1947 was some 65 percent over the Sources : Hong Kong Trade and ... and 1947 [ value in millions of U. s . dollars ' ] 19 38 1946 1947 1938 1946 19 47 Principal country , origin or ... submit notifications of obligations to file CbC Returns; submit notifications of change of address; receive or send messages in relation to CbC reporting. 3. high level transfer pricing risk assessment; assessment of other BEPS-related risks; and. Hong-kong Imports-by-country - डेटा - आर्थिक संकेतक. In practice, while CbCR information may be used to identify indicators of possible tax risk, it will usually be possible to understand the arrangements giving rise to that risk after further enquiries have been conducted. The HK UPE which intends to voluntarily file a CbC Return for an Early Reporting Period is not required to make a notification; The HK UPE or its SP/PRM may request a CbC Return for completion under the CbC Reporting Portal after registration of a CbC Reporting Account; For an Early Reporting Period beginning between 1 January 2016 and 31 March 2016, the deadline for filing a CbC Return is 31 March 2018; For an Early Reporting Period beginning between 1 April 2016 and 31 December 2017, the deadline for filing a CbC Return is 12 months after the end of the relevant accounting period. Others are South Korea and the United States. U.S. exports to Hong Kong accounted for 2% of overall U.S. exports in 2019. About 90% of its food supply is imported, according to the . This page displays a table with Hong Kong Imports By Country in U.S. dollars, according to the United Nations … Automatic Exchange of Country-by-Country Reports. The products exported to Hong … Materials on Country-by-Country Reporting. Found inside – Page 186In 1991 , Hong Kong's imports from China , as recorded in Hong Kong's trade statistics , was US $ 37,750 million ... of China and Hong Kong because China's trade statistics do not consistently classify imports by country of origin . $11.8 billion or 1.9% of its overall imports. Effective from 1 April 2019, the Department does not accept voluntary filing of a CbC Return for an accounting period ended on or before 31 March 2018. Hong Kong is a free port that does not levy a customs tariff. As for fresh fruits, our major sources of import are the United States, the Mainland, the Philippines and Thailand. The Inland Revenue (Amendment) (No. Up to 31 January 2021, data files must be prepared using CbC Return XML Schema (version 1.0). Hong Kong imports for 2019 was $639.35B, a 6.26% decline from 2018. This page displays a table with Hong Kong Imports By Country in U.S. dollars, according to the United Nations … Hong Kong Imports of Dietary Supplements; US Market Share In 2019, China was Hong Kong's the largest source of imports of vitamins (41 percent) followed by the U.S. (36 … Some of the penalty provisions will also apply to service providers. OVERVIEW . Penalties are provided in respect of matters such as failing to file CbC Returns and providing misleading, false or inaccurate information in CbC Returns. The HK UPE may also voluntarily file a CbC Return for an accounting period beginning between 1 January 2016 and 31 December 2017. Gems, precious metals: $10.3 billion. Hong-kong Imports-by-country - 数据 - 经济指标. Under the "one country, two systems" formula, Hong Kong will become . Wild boar. The value of imports of commodity group 0207 "Meat and edible offal, of the poultry of heading 01.05, fresh, chilled or frozen." to Hong Kong totalled $ 970 … EU exports to Hong Kong are dominated by machinery . Hong Kong's stronger local currency makes Hong Kong's import purchases paid for in weaker US dollars relatively less expensive when converted starting from … 139 of the laws of Hong Kong, and the This link will open in a new . Hong Kong is the second largest export market for Australia's beauty products after New Zealand, representing 14 per cent of the total exports. As Hong Kong has only implemented CbC reporting for accounting periods beginning from 1 January 2018, constituent entities of a Reportable Group with HK UPE (HK Reportable Group) may be subject to Local CbC Filing for an accounting period beginning between 1 January 2016 and 31 December 2017 (Early Reporting Period). Hong-kong Imports-by-country - Data - Kiuchumi Viashiria. Merchandise Trade statistics data for Hong Kong, China (HKG) including exports and imports, applied tariffs, top exporting and importing countries, effectively … NOTE: All figures are in millions of U.S. dollars on a nominal basis, not seasonally adjusted unless otherwise specified. Table reflects only those months for which there was trade. It is also the biggest supplier of imports for Hong Kong (45.1%). Found inside – Page 2Western Europe's share of the Hong Kong import market was 30 percent in 1952 . By 1965 , Western Europe's share dropped to 22 percent . Imports from the developing countries in 1952 were 24 percent and by 1965 had dropped to 18 percent ... This page displays a table with Hong Kong Imports By Country in U.S. dollars, according to the United Nations COMTRADE … All the aforesaid requirements for CbC reporting will apply to the voluntary filing of the CbC Return except the following: Under section 58E(2) of the Inland Revenue Ordinance, a Hong Kong ultimate parent entity may voluntarily file a country-by-country (CbC) return in respect of an accounting period beginning on or after 1 January 2016 but before 1 January 2018 by the filing deadline, which is the date on which a period of 12 months after the end of the accounting period expires. This page displays a table with Hong Kong Imports By Country in U.S. dollars, according to the United Nations COMTRADE … Hong Kong has provided a website that contains helpful information related to pet travel. The benefits of this shipping model are that it's cheaper and customers can also enjoy shorter shipping lead times, as you send the products in bulks to Hong Kong. Month. Found inside – Page 4Swiss machine tool manufacturers , with a 5percent market share , are preferred by watch and jewelry manufacturers , two of Hong Kong's major Table 2. - Hong Kong : Imports of machine tools by country of origin , 1977 , 1978 , and ... The fall in shipments followed a slide in demand for the precious metal as the . Indeed, in net terms, Hong Kong benefits from a strong creditor position: net external financial assets are 4.3 times the GDP (as of 2019). According to the Hong Kong government's half-yearly economic report for 2020, real GDP fell by 9.0 per cent year-on-year in the second quarter of 2020, following a record decline of 9.1 per cent in the preceding quarter. Found inside – Page 332Hong Kong's Top 5 Entrepot Trade Markets in 1988 Top 10 Source Markets for Hong Kong's Import in 1988 Macao's Foreign ... Tourists from European countries amounted to 0.78 million person-times, increased by 1 3.3% overthat of 1 987. Found inside – Page 3Mainland China's exports of textiles and other consumer goods to Asian countries via Hong Kong also are growing in ... Hong Kong's trade with Japan developed remarkably in 1956 , with imports from Japan rising to HK $ 811 million ... Concerns over Hong Kong's political and economic future are growing as pro-democracy protests drag on and turn increasingly violent, and China makes clear that forceful intervention is possible. Found inside – Page 46Import data are cif for all countries except Canada, which records them fob. Hong Kong imports and exports a number of products from the People's Republic of China and reexports them. Hong Kong's domestic exports were US$26 billion in ... Hong Kong has been in recession since the second half of 2019. Found inside – Page 169... Information " or on an attachment thereto : I ( We ) certify that the quantities of commodities shown on all export licenses based on the ( ------ ( Name of country ) Import Certificate ) or ( Hong Kong Import License ) No. The implementation framework for CbC reporting in Hong Kong is provided under the Inland Revenue (Amendment) (No. 1. Dogs and cats should not be brought into Hong Kong (either import or transshipment/transit) unless a Special Permit to do so is obtained in advance from this Department. Because many of Hong Kong's manufacturing facilities have been relocated to China, the region's electronics industry focuses on R&D, product design, and logistics. Direct access to our calendar releases and historical data. Over the course of several days, I came to realize that Tong Chong is just one symbol of a surprising yet growing phenomenon in Hong Kong: the niche emergence of farm-to-table sensibilities in a place that imports more than 90 percent of its food. The U.S. rated 6.9 " 23rd ranking). Hong-kong Imports-by-country - Dados - Indicadores Econômicos. This page displays a table with Hong Kong Imports By Country in U.S. dollars, according to the United … More information about the application for e-Cert (Organisational) with AEOI Functions can be found in the website of the Hongkong Post Certification Authority. The person authorized to register a CbC Reporting Account for the entity has to possess an e-Cert (Organisational) with AEOI Functions for authentication purposes. For example, CbCR information (such as the details of constituent entities) may be used as the basis for making enquiries into tax matters identified using other data sources or arising during the course of a tax audit or investigation. Hong-kong Imports-by-country - ڈیٹا - اقتصادی فہرست. The reason for this is that XML documents can be validated and provide a common medium for exchange between the jurisdictions who have introduced CbC reporting requirements. Since the Multilateral Convention is not applicable in respect of the accounting periods beginning between 1 January 2016 and 31 December 2018, transitional arrangements for exchange of CbC Reports need to be made with jurisdictions having Comprehensive Avoidance of Double Taxation Agreements or Arrangements (CDTAs) with Hong Kong for such accounting periods. prohibition against entry into or transit through the Hong Kong Special Administrative Region by certain persons. Found inside – Page 220Net importation of opium in foreign vessels into earh of the treaty - ports of China and into Hong - Kong for cight years , 1866 to 1873 . PORTS . Total import , Total import , Total import , Total import , 1866 . 1867 1868 . 1869 . 6) Ordinance 2018, which commenced operation on 13 July 2018, put in place a legislative framework for Hong Kong to implement the CbC reporting. So far, Hong Kong has made transitional arrangements with the following jurisdictions: In addition, the Mainland and Hong Kong have agreed to ride on a bilateral arrangement made pursuant to the Mainland-Hong Kong CDTA to undertake exchange of CbC reports. Country-by-Country Return XML Schema and User Guide. A Hong Kong Entity of a Reportable Group whose UPE is not resident in Hong Kong is subject to a secondary obligation of filing a CbC Return if any of the following conditions is met: Even if one of the above conditions is met, the Hong Kong Entity is not required to file a CbC Return if: Every Hong Kong Entity is required to make a notification containing information relevant for determining the obligation for filing a CbC Return within 3 months after the end of the relevant accounting period. This page displays a table with Hong Kong Imports By Country in U.S. dollars, according to the United Nations COMTRADE database on international trade. 1984 - Britain and China sign Joint Declaration on the conditions under which Hong Kong will revert to Chinese rule in 1997. It also focuses on the social adaptations of ethnic Hong Kong citizens. Hong Kong is looking into importing live pigs from countries in Southeast Asia, including Malaysia, to supplement a dwindling supply from mainland China that has caused pork prices to surge, Food . You will need to review these sites carefully as well as all information included in the import permit to ensure that all of the requirements for Hong Kong are met. Transshipments via Hong Kong will require an HK EPD import permit, with fees ranging from $1,500 to $2,375, depending on the timeframe of the permit. "Export permit or approval issued by the exporting countries must be available in case of import to Hong Kong or transshipment via Hong Kong," he adds. However, after Beijing imposed the security law in June to quell last year's huge and often violent pro-democracy protests, Trump vowed that this would change. The country from which Hong Kong imports the most food is China. Hong Kong Import Tax & Custom Fees. CbCR information on its own will not constitute conclusive evidence that transfer prices are or are not appropriate, and will not be used to propose transfer pricing adjustments based on a global formulary apportionment of income. 6) Ordinance 2018, Departmental Interpretation and Practice Notes No. In June 2019, the OECD released the CbC XML Schema (version 2.0). The change in exports was 13.64 percent and the change in imports was -53.82 percent. 2021 : U.S. trade in goods with Hong Kong. Others are South Korea and the United States. However, the Department may use CbCR information in planning a tax audit or investigation, or as the basis for making further enquiries into the MNE Group’s transfer pricing arrangements or other tax matters, in the course of an audit. Import of Dogs and Cats. Top 10 Hong Kong Imports from India. Found inside... Hong Kong Trade Index Numbers (monthly) 8.50 Hong Kong Trade Statistics 1993: Imports (monthly) 120.00 Domestic Exports & Re-exports (monthly) 120.00 Hong Kong Trade Statistics 1 992: Annual Supplement, Country by Commodity Imports ... The EU is Hong Kong's second major trade partner after China. Pursuant, Tax Information - Individuals / Businesses, Replies to Questions on Estimates of Expenditure, Departmental Interpretation and Practice Notes, Statement of Policies and Practices in relation to Personal Data, Facsimile Transmission of Information, Form and Documents, Tax Issues arising from the COVID-19 Pandemic, Relief Measure: Conditional waiver of surcharges for instalment settlement of demand notes for the Years of Assessment 2020/21, Relief Measure: Conditional waiver of surcharges for instalment settlement of demand notes for the Years of Assessment 2019/20, Tax Exemptions in respect of Relief Measures under the Anti-epidemic Fund, Relief Measure: Conditional waiver of surcharges for instalment settlement of demand notes for the Year of Assessment 2018/19, Double Taxation Relief and Exchange of Information Arrangements, CEPA - Requisition for copies of tax documents, Charitable Donations and Tax-Exempt Charities, Obtaining Duplicate Tax Return for Individuals, Submission of Employer's Return in Computerized Format, e-Application for Preparation of IR56 Form(s) by Using Employer’s Self-developed Software, Block Extension Scheme For Tax Representative, Special Arrangement in times of Tropical Cyclones and Rainstorms, Assistance to persons with disabilities in accessing IRD offices premises, the Hongkong Post Certification Authority, Authorization Form for Registration/Operation of CbC Reporting Account (Form IR1465), Application for Lead Operator Reference Number (Form IR1466), Inland Revenue (Amendment) (No. The deadline for filing a CbC Return is 12 months after the end of the relevant accounting period or the date specified in the assessor’s notice, whichever is the earlier. This makes them the 16th "cleanest" country out of the 180 countries rated. Hong-kong Imports-by-country - Data - Økonomiske Indikatorer. Download historical data for 20 million indicators using your browser. The term "assessment of other BEPS-related risk" refers to the high level assessment of tax risks that may result in the erosion of a jurisdiction's tax base. Get in touch with us now. The Department will not use CbCR information, by itself, to assess or reassess taxpayers' income for the purposes of the Inland Revenue Ordinance. Hong Kong imports for 2018 was $682.06B, a 6.37% increase from 2017. Work closely with importers to ensure requisite import permits are issued by appropriate Hong Kong, Republic... For a particular country depends on the social adaptations of ethnic Hong Kong imports for Hong Kong revert... One-Third of its overall imports Joint Declaration on the social adaptations of ethnic Kong. 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