Country-by-Country (CbC) Reporting is one of the minimum standards formulated by the Organisation for Economic Co-operation and Development (OECD) to counter base erosion and profit shifting (BEPS).
Hong Kong will implement Country-by-Country Reporting for the accounting periods commencing on or after 1 January 2018, subject to necessary legislative amendments. As a transitional arrangement, parent surrogate filing will be made available for the accounting periods commencing between 1 January 2016 and 31 December 2017.