China Tax/Business News Flash

May 2017, Issue 18

Thousand Groups Project in Progress - Further Collaboration between the Chinese Tax Authorities and Enterprises

After the release of the following two public notices in recent months, Public Notice on Matters relating to Financial Accounting Statements that are Submitted together with the CIT Returns Filed by the Thousand Groups and Enterprises within These Groups (the Public Notice [2016] No.67, PN 67), and the Administrative Measures on the Thousand Groups List (the Public Notice [2017] No.7, PN 7), the State Administration of Taxation (SAT) is conducting specialised training for liaison personnel of the Thousand Groups in order to enhance the communications between the tax authorities and enterprises. According to the feedback from participants of the training, the training covered the main jobs of the tax administration and service for the Thousand Groups at the current stage, which includes background and general thinking, taxpayer services, Thousand Groups list administration and data submission requirements, as well as risk-based tax administration. According to the messages delivered in the training, strengthening tax administration and service for the Thousand Groups will remain to be at the top of the SAT’s agenda in the near future. In this issue of China Tax/Business News Flash, we will share with you the relevant key messages as well as our observations.

Contact us

Peter Ng

China and Hong Kong Tax Leader, PwC Hong Kong

Tel: +[852] 2289 1828

Spencer Chong

Partner, PwC Hong Kong

Tel: +[86] (21) 2323 2580

Edwin Wong

Lead Partner, China Outbound Investment Service; China North Tax Leader, PwC Hong Kong

Tel: +[86] (10) 6533 2100

Alan Yam

China Central Tax Leader, PwC Hong Kong

Tel: +[86] (21) 2323 2518

Charles Lee

China South and Hong Kong Tax Leader, PwC Hong Kong

Tel: +[852] 2289 8899

Follow us