China beefs up tax services to spur investment in Belt and Road

BEIJING - China's taxation authority unveiled ten measures on Monday to improve taxation services for investors to serve the Belt and Road Initiative.

The measures will protect investors' interests, promote development and achieve a win-win outcome, said the State Administration of Taxation (SAT).

Tax guides will be published and training courses will be held to enable investors understand the tax policies of different countries, SAT said.

Talks will continue on tax agreements with relevant countries and the consultation mechanism on tax will help investors avoid double taxation and mitigate other risks.

SAT will encourage and guide more intermediaries such as accounting firms to get involved with the Belt and Road Initiative as their professional assistance is needed.

To enhance taxation transparency, SAT said it encourages countries to make full use of the financial account information exchange system. It also plans to offer training courses for countries along the Belt the Road.

The Belt and Road Initiative refers to the Silk Road Economic Belt and the 21st-Century Maritime Silk Road, international trade and infrastructure projects proposed by Chinese President Xi Jinping when he visited Central Asia and Southeast Asia in September and October of 2013.

The Belt and Road routes run through the continents of Asia, Europe and Africa, connecting vibrant East Asia economic circle at one end and developed European economic circle at the other.

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