China Tax Alert - Issue 10, March 2017
On 28th March, 2017 the SAT released its long-awaited Announcement on Special Tax Investigations and Adjustments (Announcement 6). Announcement 6 integrates some of the OECD BEPS work, particularly those on intangibles, into domestic regulations. It also consolidates previous regulations on self-adjustments and outbound payments, and writes into regulation some of the existing practices adopted for transfer pricing audits. Announcement 6 also revised and clarified the relevant contents of the transfer pricing audits and mutual agreement procedures and would be effective from 1st May, 2017.
© 2017 KPMG Huazhen LLP — a People's Republic of China partnership, KPMG Advisory (China) Limited — a wholly foreign owned enterprise in China, and KPMG — a Hong Kong partnership, are member firms of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. The KPMG name and logo are registered trademarks or trademarks of KPMG International.