Hong Kong delays implementation of OECD Pillar Two rules

It was previously announced in the 2022/23 Hong Kong Budget that the Global Anti-Base Erosion Rules (GloBE Rules) under Pillar Two of the OECD BEPS 2.0 project was intended to be implemented from 2023.

In line with the delay of the GloBE Rules implementation in other jurisdictions, it is now confirmed that Hong Kong will also delay the implementation timeline to 2024 at the earliest.

In-scope multinational enterprises (MNEs) should review their structures to assess the tax implications and get …