The Shenzhen Customs Authority and Municipal Tax Bureau issued Shenguanshui [2022] No. 62 (Circular 62) on 18 May 2022 to formally launch a new approach to collaboratively manage transfer pricing matters related to goods imported from overseas related parties. This new collaborative management provides institutional standards of transfer pricing to the Customs Authority and is also the first-ever formal cooperation between the customs and the tax authorities in relation to transfer pricing.
Source EY
Latest Posts in "China"
- China Uncovers Widespread VAT Evasion Schemes Involving Multiple Companies and Millions in Losses
- Tax Evasion Scandal: 49 Shell Companies and Fake Invoices Orchestrated by Tianjin Changze Finance
- Unveiling a Five-Layer Fake Invoice Network: Tax Evasion and Punishment in Lianyuan City
- Tax Authorities Penalize Guizhou Company for Facilitating Fake VAT Invoices and Tax Evasion
- Tianjin Tax Authorities and Police Crack Down on Major VAT Invoice Fraud Case
