On 1 July 2015 China’s National People’s Congress approved the signature of the Multilateral Convention for Mutual Assistance in Tax Matters. The agreement was originally signed by China in August 2013.
The Multilateral Convention contains provisions for mutual assistance in various ways. These include exchange of information on request, spontaneous information exchange, tax examinations in other countries, simultaneous tax examinations and assistance in tax collection. The agreement contains provisions to protect taxpayers’ rights. The agreement allows the option to engage in automatic exchange of information where parties agree to this.
