The introduction of new administrative measures for the general anti-avoidance rule in the People’s Republic of China will be the envy of HMRC, with its tight timescales, the burden of proof being laid firmly on the taxpayer, and its failure to address double taxation. However, greater control by the State Administration of Taxation over local tax authorities and the GAAR’s wide ambit (it should catch Circular 698 issues) will be welcome to those who meet its stringent background information and data retention requirements.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
The introduction of new administrative measures for the general anti-avoidance rule in the People’s Republic of China will be the envy of HMRC, with its tight timescales, the burden of proof being laid firmly on the taxpayer, and its failure to address double taxation. However, greater control by the State Administration of Taxation over local tax authorities and the GAAR’s wide ambit (it should catch Circular 698 issues) will be welcome to those who meet its stringent background information and data retention requirements.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes: