China has initiated country-by-country (CbC) reporting and exchange relationships with 44 countries. China expands current exchange relationship with the UK, France, and Germany.
For Chinese outbound multinational companies (MNCs), the expanded CbC report exchange network means that more companies will not need to perform local CbC report filings. This may alleviate the burden on certain MNCs with respect to their global tax compliance management.
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