The Inland Revenue Department announced an extended deadline for notification in relation to country-by-country (CbC) reporting in response to the coronavirus (COVID-19) pandemic.
Under Hong Kong tax rules, a Hong Kong entity of a “reportable group” must file a notification in relation to CbC reporting for an accounting period, and this notification must be filed within three months after the end of the relevant accounting period.
According to the Inland Revenue release, the Hong Kong entity and its service provider will be deemed as having complied with the notification deadline for the relevant accounting period that ended between 31 December 2019 and 29 February 2020, if the notification is received via the CbC reporting portal on or before 1 June 2020.
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