‘SAT Announcement on the Enhancement of Administration of Advance Pricing Arrangement(‘APA’)’ (‘Announcement’)will come into effect beginning on 1 Dec. 2016
Recently, SAT has specified the system and procedures of APA which has been stipulated in the ‘Notice of the State Administration of Taxation on Issuing the Measures for the Implementation of Special Tax Adjustments (for Trial Implementation)’ (GUO SHUI Fa[2009] No.2), the highlights are as follows: Adjust the stages of APA meeting The APA meeting consisted of 6 stages, pre-filing meeting, intention, analysis and appraisal, formal application, negotiation and signing, supervision of implementation. Compared with ‘GUO SHUI Fa[2009] No.2’, the ‘formal application’ has been moved from the second stage to the forth stage. This adjustment means more preparation work will…