Hong Kong Passes Crypto Tax Bill, Plans Tax Data Exchange in 2028

Hong Kong’s Legislative Council passed a crypto tax-reporting bill Wednesday, requiring eligible service providers to begin customer checks and transaction reporting in 2027 before the city starts automatic tax-data exchanges with partner jurisdictions in 2028. The Taxation (Amendment) (Crypto-asset Reporting Framework and Amended Common Reporting Standard) Bill 2026 implements the Organization for Economic Co-operation and Development’s Crypto-Asset Reporting Framework, a standard for reporting crypto-asset information for tax purposes. Under the measure, covered service providers must conduct customer due diligence and report transaction information starting in 2027.

Source: TokenPost