The Hong Kong Inland Revenue Department (“IRD”) has released a one-time extension for filing the Country-by-Country Reporting (“CbCR”) Notification for Hong Kong taxpayers with an Ultimate Parent Entity (“UPE”) where its fiscal year begins on 1 January 2018. Specifically, such Hong Kong taxpayers will have until 15 May 2019 to file their CbCR Notifications.
Details of the CbCR Notification time extension - the what, who, when, how and penalties - are provided below.
