On 18 March 2022, the Hong Kong Inland Revenue Department issued a press release announcing an extension of the CbC notification deadline for accounting periods ending between 31 December 2021 and 28 February 2022.
Under section 58H of the Inland Revenue Ordinance (Cap. 112), a Hong Kong entity of a reportable group is required to file a notification in relation to country-by-country (“CbC”) reporting for an accounting period. The notification must be filed within 3 months after the end of the relevant accounting period (“notification deadline”).
Recognising the recent COVID-19 pandemic situation, the Department would accept the Hong Kong entity and its service provider as having complied with the notification deadline for the relevant accounting period ended between 31 December 2021 and 28 February 2022, provided that the notification is received via the CbC Reporting Portal on or before 1 June 2022.
