Obligation to file a country-by-country report
The legal obligation to file a country-by-country report (cbcr) for a specified accounting period arises under the two following circumstances:
- The Hong Kong entity itself is the ultimate parent entity (the UPE) of a reportable group; or
- A non-UPE Hong Kong entity of a reportable group satisfies the condition for filing the CbC reports specified under section 58I(1), subject to the exception provided under section 58I(2).
See the legal texts of section 58E and section 58F: