On 15 January 2018, the Hong Kong Inland Revenue Department announced that Hong Kong has entered into a bilateral arrangement with France for the automatic exchange of Country-by-Country (CbC) reports. Although Hong Kong's CbC reporting requirements have not yet been formally implemented and are not planned to apply until 2018 ({News-2018-01-02/P/2-previous coverage}), Hong Kong is allowing voluntary parent surrogate filing in Hong Kong with respect to the 2016 and 2017 reporting fiscal years, which requires exchange arrangements to be effective in order to relieve local filing obligations in jurisdictions outside Hong Kong. In addition to the arrangement with France, a...