OECD affirms the achievements of China's tax, fee cuts and individual tax reform

Commissioner Wang Jun of the State Taxation Administration held a video conference with Pascal Saint-Amans, director of the Centre for Tax Policy and Administration (CTPA) of the Organization for Economic Co-operation and Development (OECD) on Sept 9, 2020. They exchanged views on China's individual tax reform and international tax collection and administration cooperation. 

Saint-Amans highly praised the achievements of China's tax, fee cut policies and individual tax reforms as their implementations has effectively eased the downward pressure on China's economy and promoted domestic economic recovery. 

Wang expressed his gratitude to the OECD for its support of China's taxation work, and hoped to further deepen the cooperation with the OECD in individual tax reform, personnel training and the Belt and Road Initiative Tax Administration Cooperation Mechanism (BRITACʘM). He seeks to improve tax governance capabilities and contribute tax power to building a community of common destiny for all mankind. 

Saint-Amans appreciated the achievements of China's tax reform, and said he believes implementation of Chinese tax reform reflects the Chinese government's confidence and determination to promote reforms and is the result of the efficient work by China's tax authorities. 

He added that China's economic development has remained resilient and strong despite the downward pressure on the world economy. 

According to the newest World Economic Outlook published by the OECD China will become the only country in the G20 economies that will achieve positive economic growth in 2020. 

The Tax Policy Reform 2020 recently released by the OECD describes the latest experience and practices of China's personal income tax and value-added tax reforms, as well as China's fiscal and taxation policies and measures taken to response to the COVID-19 pandemic, which are believed to have helped ease the downward pressure on the economy and effectively stimulated China's economic recovery.

Source from State taxation administration of the P.R.C.
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