Multilateral Convention on Mutual Administrative Assistance in Tax Matters

China joins the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, which is a global framework for tax information exchange.

The convention allows for automatic exchange of financial account information (CRS), impacting foreign account holders and financial institutions.

Member countries can request assistance in tax collection, including recovery of tax claims across borders.

The convention covers a wide range of taxes, including income tax, capital gains tax, and value-added tax.

Compliance obligations may increase for multinational corporations and individuals with overseas assets or income.

The policy aligns with international standards (e.g., OECD) and aims to combat tax evasion and avoidance.