The Hong Kong government plans to automatically exchange tax information related to crypto asset transactions with partner tax jurisdictions starting from 2028.

2025-12-09 07:22:14

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According to TechFlow, on December 9, the Hong Kong government announced in a press release that it has launched a public consultation on the implementation of the Crypto-Asset Reporting Framework (CARF) and amendments to the Common Reporting Standard (CRS) issued by the Organisation for Economic Co-operation and Development (OECD).

The government plans to complete local legislative amendments within next year, aiming to begin automatic exchange of tax information related to crypto asset transactions with partner tax jurisdictions starting in 2028, and to implement the newly revised Common Reporting Standard from 2029. Christopher Hui, Secretary for Financial Services and the Treasury, stated that this move aims to demonstrate Hong Kong’s commitment to promoting international tax cooperation and combating cross-border tax evasion, which is crucial for maintaining Hong Kong’s reputation as an international financial center.

The OECD released the reporting framework in 2023, allowing partner tax jurisdictions to automatically exchange tax information related to crypto asset transactions on an annual basis. Since 2018, Hong Kong has been exchanging financial account information with partners in accordance with the OECD Common Reporting Standard. The public may submit comments on the proposals until February 6, 2026.

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