Hong Kong mandates crypto tax reporting from 2027
6.7 Regulation Hong Kong now requires crypto service providers to report customer transaction data from 2027, with international tax data sharing starting in 2028, aligning with OECD standards for transparency and compliance.
Hong Kong has introduced a new crypto tax reporting law, requiring digital asset service providers—including exchanges and brokers—to collect and report customer transaction data to the Inland Revenue Department starting January 1, 2027. This legislation, called the Inland Revenue (Amendment) (Crypto-Asset Reporting Framework and Amended Common Reporting Standard) Bill 2026, brings Hong Kong in line with the OECD's Crypto Asset Reporting Framework (CARF). Service providers must gather detailed customer information, such as identities, tax residency, and transaction details for all crypto trades, swaps, and transfers, including those involving external wallets. Automatic exchanges of tax data with partner jurisdictions will commence in 2028, while updated rules for financial account information exchanges will take effect in 2029. The law does not impose a new tax but aims to enhance transparency, combat tax evasion, and ensure compliance with international standards. All affected businesses must register with the tax authority and adhere to strict due diligence and reporting protocols, with guidance and technical support provided by the Inland Revenue Department.
