Tag: Hong Kong
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Inland Revenue (Amendment) (No. 6) Ordinance 2018 in Hong Kong
The Inland Revenue (Amendment) (No. 6) Ordinance 2018 in Hong Kong was gazetted on July 13, 2018. Its primary purpose was to align Hong Kong’s tax laws with international standards under the Base Erosion and Profit Shifting (BEPS) package developed by the OECD. Below are the key features and objectives of this ordinance: Objectives Key Provisions Compliance Guidance The Inland…
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Country-by-Country Reporting (CbCR) Regulation in Hong Kong
Hong Kong has implemented Country-by-Country Reporting (CbCR) as part of its commitment to the OECD BEPS Action 13 framework, enhancing tax transparency and preventing base erosion and profit shifting. The Inland Revenue Department (IRD) is the competent authority overseeing CbCR compliance in Hong Kong. This guide provides CFOs and tax professionals with a structured overview…
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How CbC reporting is presented in Hong Kong
Hong Kong has implemented Country-by-Country (CbC) reporting requirements as part of the Organisation for Economic Co-operation and Development (OECD) Base Erosion and Profit Shifting (BEPS) Action Plan. The CbC reporting framework aims to increase transparency in international tax matters and prevent multinational corporations from shifting profits to low-tax jurisdictions. In Hong Kong, multinational corporations with…
CbC Reporting 