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Hong Kong

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Hong Kong Launches CbC Reporting Portal

The Hong Kong Inland Revenue Department (IRD) launched its portal for the submission of Country-by-Country (CbC) reports on 5 March 2018. The portal allows ultimate parent entities established in Hong Kong to voluntarily submit CbC reports in respect of accounting periods beginning between 1 January 2016 and 31 December 2017. Hong Kong’s mandatory CbC reporting requirements will apply for accounting periods beginning on or after 1 January 2018, with the legislation for the implementation of the requirements currently pending approval by the Hong Kong Legislative Council (previous coverage).

In order to submit CbC reports via the portal, the individual authorized to open a CbC reporting account for the reporting entity must register via the portal and:

  • provide the Reporting Entity’s Business Registration Number; and
  • use his/her e-Cert (Organizational) with AEOI Functions for authentication.

The CbC report itself must be prepared in accordance with the IRD’s prescribed XML data schema which is based on the CbC XML Schema v1.0.1 issued by the OECD. The data file must also be encrypted with an encryption tool provided by the IRD before uploading to the portal (available in the portal).

Click the following links for the CbC Reporting Portal and the IRD CbC guidance webpage for more information.

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