China Specific Tax Rules
Prior to 2009, China generally followed OECD Guidelines. New guidelines were announced by the State Administration of Taxation (SAT) in March 2008 and issued in January 2009. The new rules continue to apply to domestic and international transactions. These guidelines differ materially in approach from those in other countries in two principal ways: 1) they are guidelines issued instructing field offices how to conduct transfer pricing examinations and adjustments, and 2) factors to be examined differ by transfer pricing method. The guidelines cover:
- Administrative matters
- Required taxpayer filings and documentation
- General transfer pricing principles, including comparability
- Guidelines on how to conduct examinations
- Advance pricing and cost sharing agreement administration
- Controlled foreign corporation examinations
- Thin capitalization
- General anti-avoidance
Read more about this topic: Transfer Pricing
Famous quotes containing the words china, specific, tax and/or rules:
“Riot in Algeria, in Cyprus, in Alabama;
Aged in wrong, the empires are declining,
And China gathers, soundlessly, like evidence.
What shall I say to the young on such a morning?—
Mind is the one salvation?—also grammar?—
No; my little ones lean not toward revolt.”
—William Dewitt Snodgrass (b. 1926)
“The more specific idea of evolution now reached is—a change from an indefinite, incoherent homogeneity to a definite, coherent heterogeneity, accompanying the dissipation of motion and integration of matter.”
—Herbert Spencer (1820–1903)
“...many tax collectors and sinners were also sitting with Jesus.”
—Bible: New Testament, Mark 2:15.
“A scholar, in his Segmenta, left a note,
As follows, “The Ruler of Reality,
If more unreal than New Haven, is not
A real ruler, but rules what is unreal.””
—Wallace Stevens (1879–1955)