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The Legislative Council passed the base erosion and profit shifting (BEPS) and transfer pricing (TP) Bill on 4 July 2018.

The Bill will come into force after it has been signed and published in the Gazette (expected by 13 July 2018). This is a milestone in Hong Kong taxation as the BEPS and TP Ordinance formally introduces a TP regulatory regime and TP documentation requirement into Hong Kong tax legislation.