Tag: state administration of taxation

China will institute a profit monitoring system designed to detect multinational tax evasion, after announcing a back tax penalty on an MNC. Treasurers need to wary of China profit margins.

China’s Ministry of Finance (MOF) and the State Administration of Taxation (SAT) jointly issued circular Caishui No. 84, "Provisional Measures for the VAT Calculation and Reporting of Pilot Taxpayers with Headquarters and Branches under the Pilot Program” in December last year. In a note published by Lehman Brown this week, the accountancy firm offers advice on what it means.