[Hong Kong Launches Consultation on Implementing CARF and Amending Tax Reporting Standards] Hong Kong on Tuesday launched a consultation on the implementation of CARF and amendments to tax reporting standards. Christopher Hui, Secretary for Financial Services and the Treasury, stated that adopting CARF demonstrates the government's commitment to promoting international tax cooperation and combating cross-border tax evasion. Hong Kong is also seeking opinions on adopting CRS. According to the OECD list, 48 countries have committed to adopting CARF by 2027, 27 countries by 2028, and the United States by 2029.