BDO International Tax Newsflash | July 2016

26 Juli 2016

Welcome to the current issue of BDO International Tax Newsflash.

The newsflash covers the following topics:

  • Tax Update on New Regulations on the Exemption of Value-added Tax for Cross-border Activities - Chinese tax authorities have recently issued new tax regulations on exemption of Value-added Tax for cross-border activities.
  • Discussion draft of "Implementation Measures of Special Tax Adjustment" released for public opinion - A progressive step in localization of BEPS project in China - To localize the BEPS project, Chinese tax authorities issued a discussion draft of "Implementation Measures of Special Tax Adjustment" for public opinion late last year. The discussion draft is perceived to be an significant update of the existing transfer pricing regulations in China.
  • China Records Tremendous Progress in Tax Co-operation and Tax Transparency - In May 2016, China signed OECD's Multilateral Competent Authority Agreement for the automatic exchange of country-by-country reports with 38 other countries in the OECD Forum on Tax Administration held in Beijing, China.