Hong Kong’s Inland Revenue Department on December 19 announced an extension to the due date for local filing of some country-by-country tax reports.
In cases where a local filing entity’s first relevant accounting period for a country-by-country report ended between December 31, 2018, and March 31, 2019, the tax department will accept returns on the country-by-country reporting portal by March 31, 2020, the government said.
Hong Kong’s Inland Revenue Department said that it is in discussions with some countries for bilateral arrangements for the exchange of country-by-country reports. If these arrangements are concluded, a local entity may no longer be required to file a country-by-country report.
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