Hong Kong: Updated FAQs concerning AEOI and CRS regime

Hong Kong: Updated FAQs concerning AEOI and CRS regime

The Inland Revenue Department updated a set of “frequently asked questions” (FAQs) related to the automatic exchange of information (AEOI) under the common reporting standard regime (CRS).

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The updated FAQs reflect guidance for a reporting financial institution that has not yet started to maintain any reportable account because none of the account holders is a non-Hong Kong tax resident. The reporting financial institution is not required to register an AEOI account if it does not maintain any reportable accounts.

If the reporting financial institution maintains a reportable account, the reporting financial institution must register an AEOI account, and notify the Commissioner via the AEOI portal, within three months from the date the reporting financial institution begins to maintain a reportable account.

Read a February 2021 report [PDF 76 KB] prepared by the KPMG member firm in Hong Kong

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