Overview
- Public submissions are open until February 6, 2026, following Tuesday’s launch of the consultation.
- The government plans legislative amendments to the Inland Revenue Ordinance in 2026 to enable CARF and an updated CRS.
- Automatic exchange of crypto tax data is targeted to start in 2028 on a reciprocal basis with jurisdictions that satisfy data-security requirements.
- The amended Common Reporting Standard is slated to take effect in 2029, with proposals including mandatory registration and tougher penalties for reporting institutions.
- Officials are seeking feedback on reporting obligations, due diligence and transitional arrangements, as 76 jurisdictions have pledged to adopt CARF and 53 have signed the exchange agreement.