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Hong Kong Outlines Roadmap for Crypto-Asset Tax Reporting by 2028
Hong Kong Outlines Roadmap for Crypto-Asset Tax Reporting by 2028
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BTCCSquare news:
Hong Kong has initiated a public consultation on implementing the OECD's Crypto-Asset Reporting Framework and updating its Common Reporting Standard rules. The MOVE aligns with global tax transparency efforts, with legislative amendments expected by 2028.
The consultation seeks public input before finalizing proposals that WOULD require annual reporting of crypto-asset transactions. This builds on Hong Kong's existing financial account information sharing program, active since 2018.
Digital asset markets continue evolving, prompting international standards for wealth management and cross-border activity oversight. The OECD developed its Crypto-Asset Reporting Framework in 2023 specifically to address these emerging challenges.
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