Tax

China kicks off a new BEPS era with heavier reporting and compliance burdens for MNCs and their local subsidiaries amid a global crackdown on tax avoidance

Investment income from the interbank renminbi market exempted from VAT.

Investment income from the interbank renminbi market exempted from VAT.

Multinational companies are the target of focus as China beefs up regulations and reporting requirements to crack down on avoidance and close transfer pricing loopholes. 中国加强法规和申报规定来打击避税，填补转让定价漏洞，跨国公司成为重点目标。

Customs duties lowered to reduce enterprises' tax burdens.

Customs duties lowered to reduce enterprises' tax burdens.

Criteria lowered for recognition of HNTEs.

Criteria lowered for recognition of HNTEs.

Water included in resource tax levy.