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 prepared using CbC Return XML Schema (version 1.0).