Transfer pricing adjustments may be made in accordance with Circulars 3 and 16 “Internal Working Procedure (Trial) of Special Taxation Adjustment” and “Joint Assessment Procedure (Trial) for Key Cases of Special Taxation Adjustment”. Accordance with SAT Gong Gao (2014) No 54 of 29 August 2014, the taxpayer is sent a Notice of Tax Affairs and must send in contemporaneous transfer pricing documentation and other related material within 20 days of the issue date of the letter if the tax authority considers there is a risk of tax adjustments. The taxpayer may make adjustments and pay tax on its own initiative or request the tax authority to determine the transfer pricing methods and make the tax adjustments.
«
Previous post
Chile-Hong Kong: FTA enters into force
Chile-Hong Kong: FTA enters into force
Related Posts
US extends Section 301 tariff exemptions on Chinese imports through August 2025
June 11, 2025
The USTR has extended certain product exclusions from Section 301 tariffs on Chinese imports until 31 August 2025. The Office of the US Trade Representative (USTR) has announced an extension of specific product exclusions from Section 301 tariffs
Read More
Brazil, China: Amending protocol to tax treaty enters into force
May 30, 2025
The amendment to the 1991 Brazil-China Income Tax Treaty takes effect on 14 June 2025. The amending protocol to the Brazil-China Income Tax Treaty (1991) will take effect on 14 June 2025. The protocol takes effect on 1 January 2026 for
Read More
EU to introduce flat tax on low-value imports from China
May 21, 2025
According to a Financial Times report on 20 May 2025, the EU is considering imposing a flat fee on small packages entering the bloc, mainly from China. The Financial Times reported that the European Commission shared a draft proposal for a
Read More China imposes anti-dumping tariffs on plastics from US, EU, Japan, and Taiwan
May 19, 2025
China’s Ministry of Commerce has imposed anti-dumping duties on POM copolymer imports from the US, EU, Japan, and Taiwan on 18 May 2025. Rates will range from 3.8% to 74.9%. US imports will face the highest rate at 74.9%, while EU shipments are
Read More
US lowers “de minimis” tariff on small Chinese parcels, China lowers tariffs on US imports for 90 days
May 16, 2025
The White House released a joint statement, on 12 May 2025, announcing that the US will lower the "de minimis" tariff on low-value shipments from China to 30%, easing tensions in the trade war between the two largest economies. The order relieves
Read More
China commits to signing tax treaty with Peru
May 14, 2025
China's Ministry of Foreign Affairs announced that China and Peru officials convened on 12 May 2025 to discuss bilateral cooperation, including plans to negotiate and sign an income tax treaty. This treaty seeks to prevent double taxation and tax
Read More