Webinar: Transfer Pricing in China - Announcement 42

Paul Dwyer, Dezan Shira & Associates' Head of International Tax and Transfer Pricing, will be hosting a live webinar on Transfer Pricing in China. 

In recent years, the China tax authorities have been paying increasing attention to transfer pricing related issues.  In line with OECD Guidelines, China has taken proactive measures to combat base erosion and profit shifting (BEPS).  On July 13, 2016, the State Administration of Taxation (SAT) released an Announcement on the Enhancement of the Reporting of Related Party Transactions and Administration of Contemporaneous Documentation (Announcement 42), mainly to address and standardize transfer pricing contemporaneous documentation.  Announcement 42 provides new transfer pricing compliance requirements in China including:

• Increased annual reporting for related party transactions.
• Country by country (CbC) reporting.
• Transfer pricing documentation: A three tier approach (Master, Local and Special Issues files).

All of these new requirements represent substantial changes compared with the previous requirements under Guo Shui Fa [2009] No.2 (the old laws).  Announcement 42 applies to fiscal years beginning from 1 January 2016.  As such, it is important that taxpayers are aware of their compliance obligations.  In our webinar, Dezan Shira’s head of international tax and transfer pricing, Paul Dwyer, will provide you with an overview of Announcement 42 and summarise the key areas that taxpayers should be mindful of.

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