More on electronic tax reporting in Hong Kong from PwC
Did you catch our story in December on the forthcoming introduction of Inline XBRL-based digital tax reporting for business by the Hong Kong Inland Revenue Department (IRD)? If, like us, you’re interested in this subject do take a look at PwC’s News Flash on ‘The Inland Revenue Department’s eTAX Journey,’ which contains valuable detail on current progress. “We can see the IRD has been working at full steam to take forward the e-Filing project,” it concludes, anticipating that companies and other interested parties will need to step up the pace in terms of software and systems. PwC also encourages business to reflect on their transition needs and respond to the IRD’s consultation paper on its plans. There’s still time to do so, with comments due by 31 January 2022.
An earlier News Flash from April also provides useful background on the proposals and the key features of the new reporting framework.