Hong Kong Tax Agency Posts Updated Guidance on Domestic Minimum Top-Up Tax Under Pillar 2

The Hong Kong Inland Revenue Department Sept. 25 posted an updated guidance regarding the 15 percent global minimum tax on specified multinational enterprise (MNE) groups, in accordance with the OECD Pillar Two Global Anti-Base Erosion (GloBE) Model Rules. The updated guidance includes: 1) information on the phased introduction of the top-up tax filing framework for in-scope MNE groups, starting January 2026; 2) the requirement for specified entities to file Hong Kong minimum top-up tax (HKMTT) declarations and information returns electronically; and 3) the use of unique group codes for in-scope MNE groups, Hong Kong standalone joint ventures (JVs), and JV ...