The new legislation introduces crypto-asset reporting obligations and expands financial account disclosure requirements, with international information exchanges starting between 2028 and 2029.
Hong Kong’s Legislative Council has passed the Inland Revenue (Amendment) (Crypto-Asset Reporting Framework and Amended Common Reporting Standard) Bill 2026, paving the way for the implementation of new international standards on crypto-asset tax reporting. The legislation introduces the OECD’s Crypto-Asset Reporting Framework (CARF) and updates to the Common Reporting Standard (CRS), strengthening tax transparency and cooperation between jurisdictions.
Under CARF, relevant crypto-asset service…
