Extension for the deadline of the Country-by-Country Reporting Notification
The Inland Revenue Department (“IRD”) recognizes that the Hong Kong entity and the service provider engaged by the entity (if any) may need more time to get familiar with the requirements and procedures for giving the notification via the CbC Reporting Portal. Hence for the first accounting period beginning on 1 January 2018, the IRD would accept the Hong Kong entity and its service provider as having complied with the time limit prescribed under section 58H, provided that the notification is received via the CbC Reporting Portal on or before the expiry of 45 days after the relevant notification deadline (i.e. 15 May 2019).
Please note that the above treatment only applies to the first accounting period beginning on 1 January 2018. If the first accounting period begins after 1 January 2018, the notification deadline should be duly observed.