The title is lengthy and unwieldy, but, as this translation, provided by the State Administration of Taxation shows, China’s ambitious tax reform, set out in 31 tasks, includes a focus on international tax cooperation and an explanation of what state and local tax authorities are responsible for and how they should work together. The goal is to establish a modern tax collection and administrative system by 2020.
The Budget season is about to start in Asia. Ralph Cunningham believes finance ministers are likely to prioritise local or regional concerns rather than get involved in any deep discussions about base erosion and profit shifting.
