03/01/25

HONG KONG: Crypto-Asset Reporting Framework Implementation Announced

As published on: globalvatcompliance.com, Friday 3 January, 2025.

The Hong Kong Information Services Department confirmed the country’s commitment to implementing the Crypto-Asset Reporting Framework (CARF). This initiative aims to bolster international tax transparency and address cross-border tax evasion.

The Government plans to begin automatic exchanges with relevant jurisdictions under CARF starting in 2028.

Legislative amendments necessary for CARF implementation are expected to be in place by 2026.

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Hong Kong CARF Cryptoassets