Businesses face a new era of tax administration and investigation in China as tax authorities shift their focus from pre-approval to post-investigation, underscoring the need for careful navigation of the nation's tax regime. Despite a trend of fewer pre-approvals required for some procedures such as fund remittance, supervision remains strict, with Chinese tax authorities retaining the right to perform a tax inspection within 10 years of a procedure's completion and leveraging new technologies for data collection and analysis.
Big data analytics allows tax authorities to select tax investigation targets effectively and efficiently. For large enterprises, a formal anti-avoidance investigation will usually be carried out. However, small enterprises will be issued a tax risk notice that requires them to conduct a self-check and self-adjustment on underpaid tax.
First 15-20 minutes is for networking
Sandwiches and beverages included
Hosted by the Taxation Committee