China, OECD to boost cooperation on taxation

China and the Organization for Economic Cooperation and Development (OECD) have agreed to strengthen cooperation on global taxation issues, the State Taxation Administration (STA) said on Feb 5.

The consensus came at a meeting held via video link between Wang Jun, head of the administration, and Pascal Saint-Amans, director of Center for Tax Policy and Administration of the OECD, the STA said in a statement.

The two sides had an in-depth exchange on issues such as the cooperation mechanism for tax collection and management under the Belt and Road Initiative and the reform of electronic invoicing, it said.

China and the OECD will jointly participate in the global tax governance for the digital economy, according to the meeting.

The two sides will also help developing countries enhance tax collection and management capabilities and keep pushing forward bilateral taxation cooperation.

China will work with the OECD to meet challenges stemming from the digitalization of the economy, and tackle issues including the lack of international taxation professionals, Wang said.

Saint-Amans expressed the hope that the two sides will establish platforms for information and experience sharing. He hoped the two sides will jointly find solutions in the taxation field to fight the pandemic and facilitate development, and build a growth-friendly taxation environment together.