Tax administration on large business groups (LBGs) has been a hot area in the tax authorities’ work over the past few years. Since 2015, with the release of the (the Plan) and the <"Internet+ Taxation" Program>, the State Administration of Taxation (SAT) has extended the scope of tax administration on LBGs from 45 groups to thousand groups and has adjusted their working approach accordingly. In Issue 31 of China Tax/Business News Flash released in November 2016, we have shared our detailed observation on the data collection of the "Thousand Groups Project".
On 8 December and 9 December 2016, the SAT held the National Tax Work Conference on the Tax Administration on Large Business Groups (work conference), which looked back at the tax administration on LBGs in 2016 and discussed the work plan for 2017. Meanwhile, a couple of key messages on the tax administration on LBGs for the next stage were also delivered at the work conference. The "Thousand Groups Project", which has been launched for more than one year, has become standardized and normalized. The working approach on the tax administration on LBGs is also becoming more organized, which will have a great impact on LBGs. In this issue of China Tax/Business News Flash, we will look back at the tax administration work on LBGs in 2016 in general, look forward to its development in 2017 and share our observations and perspectives on the opportunities and challenges for the relevant taxpayers.
China and Hong Kong Tax Leader
Tel: + 2289 1828
Tel: + (21) 2323 2580
Lead Partner, China Outbound Investment Service; China North Tax Leader
Tel: + (10) 6533 2100
China Central Tax Leader
Tel: + (21) 2323 2518
China South and Hong Kong Tax Leader
Tel: + 2289 8899