On 6 October 2020, the Hong Kong Inland Revenue Department announced an update of its XML schema and user guide for Country-by-Country (CbC) reporting. The update is based on the CbC XML Schema (version 2.0) released by the OECD in June 2019. From 1 February 2021, CbC report data files must be prepared using CbC Return XML Schema (version 2.0). Up to 31 January 2021, data files must be prepare…