A Taxing Moment for Foreign Banks In China: Managing Tax Audits

The Accounting Policy & Practice Report ® provides financial accounting policy makers, advisors, and practitioners with the latest news, expert insights, and guidance on emerging, evolving,...

Foreign banks are experiencing a rapidly changing environment in China with revenue authorities engaging in intense tax audits in which they challenge financial transactions that take aggressive positions that in many cases generally are inconsistent with established international tax norms. This environment more recently has been fueled by Chinese tax authorities seeking revenue to address government plans to stimulate and stabilize the economy.


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