Hong Kong Passes Crypto Tax Reporting Bill: CARF Starts in 2027, Information Exchange in 2028
The Hong Kong Special Administrative Region Government welcomed the Legislative Council's passage on November 4 of the Inland Revenue (Amendment) Bill 2026, implementing the OECD's Crypto-Asset Reporting Framework (CARF) and the amended Common Reporting Standard (CRS) in Hong Kong.
Under the new law, CARF takes effect in Hong Kong in 2027, requiring relevant service providers to collect specified information, with the Inland Revenue Department beginning automatic exchange of crypto-asset transaction tax information with partner jurisdictions in 2028. The amended CRS takes effect in 2028, with exchanges under the new standard from 2029.
Financial Secretary Paul Chan said implementing the latest international standards for automatic exchange of information will help consolidate Hong Kong's reputation as an international financial and business hub, and enhance the confidence of crypto-asset service providers, financial institutions and digital asset users in operating and investing in Hong Kong for the long term.
(Source: Government of the Hong Kong Special Administrative Region)
Source: Government of the Hong Kong Special Administrative Region
Published by GSM · USA (original Chinese edition)
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