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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.