China Tax/Business News Flash

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Oct 2014, Issue 23

SAT vows to fight tax avoidance in China: 15 unacceptable tax practices identified

On 25 September 2014, China’s State Administration of Taxation (SAT) hosted a conference in Beijing on the 2014 deliverables of the Base Erosion and Profit Shifting (BEPS) project which the Organisation for Economic Co-operation and Development (OECD) had announced one week earlier. At the conference, core members of the SAT BEPS taskforce spoke to around 250 participants, including representatives from state-owned enterprises, multinational enterprises (MNEs), tax consulting firms, law firms, and academia.

The SAT concluded at the conference that the BEPS project was a “worldwide campaign on tax-substance alignment” and set forth their general positions and action plans to address BEPS issues in China. Taxpayers should pay close attention to these positions and actions plans and prepare their responses to the BEPS project in the next few years.

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