The Hong Kong Consumer Council has tested 49 ground or powdered coffee products – many available in Macau – and discovered various levels of heavy metals and pesticides in a number of samples. Only three products, namely coffee beans by UCC, coffee capsules by The Coffee Academics and instant coffee by M&S Food, were found to be free of pesticides. The Illy Intenso – bold roast coffee beans – had the highest levels of lead and tin in the tests. The council reminds consumers to be mindful of their caffeine intake as excessive consumption may be harmful. It also pointed out that decaffeinated coffee does not contain zero caffeine.
Amended Tax Information Exchange Law to take effect April 1 once passed
A parliamentary committee has set April 1 as the date for the reviewed Tax Information Exchange Law to come into effect, as it concludes its work on the law review. The bill will then move to the plenary for voting. The amended version will have no stipulation on offshore businesses, as these types of operations have been banned. Other amendments now in the bill include a requirement for customers to prove the source of funds to financial institutions at the time of opening a new financial account, regardless of their status with the institution. Institutions are also required to retain data for a certain period of time.
