Hong Kong: Letters to MNE groups potentially in scope of Pillar Two rules
MNEs have two months to reply to letters.
The Inland Revenue Department (IRD) has issued letters to multinational enterprise (MNE) groups in Hong Kong potentially in-scope for the Pillar Two rules, which are applicable to fiscal years beginning on or after January 1, 2025. Read TaxNewsFlash
The IRD requests that each MNE receiving a letter (1) assess whether it belongs to an in-scope MNE group, and (2) return a completed reply slip within two months from the issuance date of the letter.
If the MNE belongs to an in-scope MNE group, the IRD requests additional information to be provided and further actions to be taken.
For more information, contact the Global Leader of KPMG Global Transfer Pricing Services:
Burcin Nee | bnee@kpmg.com