Tax administrations have been facing pressure from the electorate and media to combat tax avoidance and profit shifting away from their jurisdictions.
Responding to this, G20 countries through the Organisation for Economic Co-operation and Development (OECD), and the Base Erosion and Profit Shifting (BEPS) project, have delivered a framework of 15 action plans to equip jurisdictions with tools to minimise the effects of tax avoidance and profit shifting. However, exchanges of data under Action 13 plan pose numerous challenges for tax administrations to make effective use of this information.
Source: https://www.tihk.org.hk