Hong Kong’s Country-by-Country Reporting (CbCR): A Guide for Multinational Enterprises
As part of the global initiative to enhance tax transparency and combat tax avoidance, Hong Kong has implemented Country-by-Country Reporting (CbCR) requirements in line with the OECD’s Base Erosion and Profit Shifting (BEPS) Action 13. This regulation impacts multinational enterprise (MNE) groups with significant global revenue, ensuring tax authorities have access to key financial data for tax assessment.
This article provides an in-depth look at Hong Kong’s CbCR framework, its applicability, filing requirements, and compliance considerations for multinational businesses.
Hong Kong Company Annual Return vs. Business Registration Fee: Key Differences
Hong Kong is one of the most attractive business hubs in the world due to its business-friendly environment, low tax rates, and ease of company incorporation. However, company owners must remain compliant with various regulatory obligations, including the Annual Return filing and the Business Registration Fee payment.
How to Maintain Proper Company Records in Hong Kong
In Hong Kong, maintaining accurate company records is essential for regulatory compliance, business transparency, and financial accountability. Keeping detailed records not only ensures that a business adheres to local legal requirements but also supports better corporate governance and risk management. Companies are also required to comply with Anti-Money Laundering (AML) regulations to prevent involvement in illicit activities such as money laundering and terrorist financing. This article will explore the essential steps to maintaining proper company records, the importance of compliance, and the best practices for record-keeping under Hong Kong’s regulatory framework, including AML obligations.
