Tuesday, 20 December 2016

China requests more data from large businesses under the ‘Thousand Groups Project’

On 20 July 2016, the Taxation and Fiscal Committee of the Business and Industry Advisory Committee to the OECD (BIAC) published meeting minutes from discussions with China’s State Administration of Taxation (SAT) about its ‘Thousand Groups Project’.

The SAT launched the Project in late 2015 as a revolutionary initiative to solve, by 2020, perceived problems of information asymmetry and to enhance its capability and efficiency with respect to large businesses, via data mining and analysis.

Source & more info: PwC