Hong Kong, China has passed a crypto asset tax reporting bill, will implement the Common Reporting Framework (CARF) starting next year, with information exchange set to begin in 2028.

Hong Kong Special Administrative Region (HKSAR) government welcomes the Legislative Council’s passage today of the 2026 Inland Revenue (Amendment) Bill, which will implement the OECD’s Crypto-Asset Reporting Framework (CARF) and the amended Common Reporting Standard (CRS) in Hong Kong. The HKSAR government noted that CARF will take effect in Hong Kong next year, with relevant service providers required to collect specified information per the framework; the Inland Revenue Department (IRD) will automatically exchange tax information on crypto-asset transactions with partner jurisdictions starting from 2028. The amended CRS will also come into force in 2028, and the IRD will automatically exchange financial account information under the new standards from 2029. Hong Kong’s Secretary for Financial Services and the Treasury Christopher Hui Ching-yu said that implementing the latest international automatic information exchange standards will help consolidate Hong Kong’s reputation as an international financial and commercial center, and boost the confidence of crypto-asset service providers, financial institutions and digital asset users in operating and making long-term investments in the city. Hong Kong will conduct information exchange based on reciprocity, data confidentiality and security. The IRD will issue guidelines and set up a dedicated team to provide technical support and answer inquiries for the industry.