Hong Kong CbC Reporting Portal Launched

Hong Kong CbC Reporting Portal Launched

On March 5, 2018, the Hong Kong Government launched an online portal to enable Hong Kong entities to file their country-by-country (CbC) reports. The Portal can be accessed through: https://aeoi.ird.gov.hk/cbc.

Hong Kong “ultimate parent entities” of reportable MNE Groups can now file CbC returns for accounting periods beginning between January 1, 2016, and December 31, 2017, via the portal voluntarily.

Entities have to register on the portal. “They are required to use an e-Cert (Organizational) with AEOI Functions for the purpose of authentication,” the Inland Revenue Department noted.

CbC reporting is part of a three-tiered approach to transfer pricing documentation (along with “master” and “local” files) developed under base erosion and profit shifting Action 13. 

On December 29, 2017, Hong Kong gazetted the Inland Revenue (Amendment) (No. 6) Bill, 2017, which provides for an implementation framework for CbC reporting in Hong Kong.