BEIJING, Nov.1 (Xinhua) -- China's State Administration of Taxation (SAT) has compiled the Taxation Guidelines for Going Global, covering 83 specific items, said Liao Tizhong, Director of International Tax Department of SAT at a press conference on October 27.
The move is aimed to better serve national opening-up policy, provide taxation services to enterprises aiming to “go global” and help enterprises avoid tax risks in overseas investment.
For this purpose, SAT has integrated and categorized 47 relevant regulatory documents and 105 relevant agreements, which were issued before August 2017.
According to Liao, the guidelines mainly include four areas: tax policies, tax agreements, regulations and rules, and services.
Regarding tax policies, the guidelines have reviewed 29 preferential tax policies for exporting goods, providing cross-border services and obtaining gains from offshore services. They have also introduced a “policy package” for enterprises, including policies of tax rebates, zero-tax rate, tax credit and deduction.
As for tax agreements, the guidelines have divided the four types of foreign earned income into 19 subtypes, which can help enterprises take advantage of tax agreements, enjoy agreed upon preferential treatments and protect their rights.
In terms of regulations and rules, the guidelines have listed 21 items of regulations and procedures, such as tax registration, entity identification, tax declaration and special tax adjustment, which can help enterprises “going global” to effectively prevent tax risks.
In the services section, the guidelines have reviewed 14 services items to help enterprises comprehensively understand tax services related to venturing global, including paperless declaration of export tax rebates, issuance of Certificate of Chinese Fiscal Resident, advance pricing arrangement, bilateral consultations on tax-related disputes and so on.
The Taxation Guidelines for Going Global have been published on SAT’s website.
(Edited by Yang Qi, kateqiyang@xinhua.org)
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