China has taken further steps to crack down on tax avoidance by signing the Corporate Tax and Price Shifting project . The agreement was signed by 39 jurisdictions at the Organisation for Economic Co - operation and Development Forum on Tax Administration , 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 . Wang Jun , commissioner of the State Administration of Taxation said the agreement demonstrated “ 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 39 jurisdictions at the Organisation for Economic Co-operation and Development Forum on Tax Administration, 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. Wang Jun, commissioner of the State Administration of Taxation said the agreement demonstrated “China's commitment to implementing international tax rules”.