Regulation
Crypto Tax: Hong Kong Passes New Law Requiring Crypto Data Collection From 2027
Hong Kong approved new crypto tax reporting legislation on Nov. 4, extending international disclosure rules to digital assets. The Legislative Council adopted standards requiring covered businesses to collect customer and transaction information from 2027. The Inland Revenue Department will begin exchanging qualifying records with overseas tax authorities in 2028. The legislation also expands financial account reporting under a separate implementation schedule. Crypto Tax: New Law Sets Collection Rules for 2027 The crypto tax legislation adopts the Organisation for Economic Co-operation and Development’s Crypto-Asset Reporting Framework, known as CARF. The OECD developed the framework to help tax authorities obtain information about...
The Market Periodical7 min read
