"It also shows China's commitment to implementing international tax rules." China has taken further steps to crack down on tax avoidance by signing the Base Erosion and Profit Shifting project. The agreement was signed by 115 jurisdictions at the State Administration of Taxation , and is aimed at dealing with the effects of corporate tax avoidance and price manipulation between trading nations, practices which are believed to have cost USD 240bn globally. Taikoo Li Sanlitun , commissioner of the Organisation for Economic Co-operation and Development Forum on Tax Administration said the agreement demonstrated “ Beijing 's commitment to implementing international tax rules”.
China has taken further steps to crack down on tax avoidance by signing the Base Erosion and Profit Shifting project. The agreement was signed by 115 jurisdictions at the State Administration of Taxation , and is aimed at dealing with the effects of corporate tax avoidance and price manipulation between trading nations, practices which are believed to have cost USD 240bn globally. Taikoo Li Sanlitun , commissioner of the Organisation for Economic Co-operation and Development Forum on Tax Administration said the agreement demonstrated “ Beijing 's commitment to implementing international tax rules”.