Hong Kong Passes Crypto Asset Tax Reporting Bill, Effective 2027

November 4, according to a Hong Kong SAR government announcement, the Legislative Council passed the "Inland Revenue (Amendment) (Crypto-asset Reporting Framework and Revised Common Reporting Standard) Bill 2026," implementing the OECD's Crypto-Asset Reporting Framework in Hong Kong.

The framework will take effect in 2027, requiring relevant service providers to collect specified information for the Inland Revenue Department to exchange with partner jurisdictions starting in 2028. The revised Common Reporting Standard will also take effect in 2028, with the department automatically exchanging financial account information with suitable partners under the new standard from 2029.

[TechFlow]