Simplified Procedure for Unilateral Advance Pricing Arrangements in China

September 10, 2021 | BY

Susan Mok

Daisy Duan of King & Wood Mallesons discusses enterprises that will qualify to be an applicant under the simplified procedure for unilateral advance pricing arrangements (APAs) and those that are excluded, and the benefits of having a streamlined APA process for MNCs in cross-border transactions

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Summary

  • Matters that are not specified in Announcement No. 24 must be subject to the provisions of Announcement No. 64
  • The general procedure and the simplified procedure are not mutually exclusive, and qualified enterprises may choose to apply either one depending on their own considerations and circumstances
  • Announcement No. 24 simplifies the procedures for unilateral APAs into three stages, namely, application for assessment, negotiation and signing, and monitoring of execution