Asia Pacific Free Trade Area Supported By APEC Members

The Ministry of Commerce said that the construction of the Asia Pacific Free Trade Area has received unanimous support from APEC members. APEC has set up a working group of "Friends of the chairman" in the Asia Pacific Free Trade Area. It is chaired by China and the United States and is actively promoting the atfl roadmap.

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In the APEC conference briefing, leaders of the Asia Pacific region called for the establishment of APEC.

The "incubator", China hopes to implement the Asia Pacific free trade zone which has been proposed in 06 years, and take some specific measures.

The Asia Pacific free trade area is the common vision of the 21 members of the APEC conference.

In the construction of the free trade area, so far, although some of the contents are still under discussion, all members have been unanimously supported.

The Ministry of Commerce said

There is a trade and Investment Commission which has set up a working group of "Friends of the chairman" in the Asia Pacific Free Trade Area. It is chaired by China and the United States. Under the leadership of the working group of "Friends of the chair", the committee is actively promoting the atfl roadmap.

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According to the leaders' statement of the G20 summit, a consensus was reached by the end of 2015 to complete the plan to jointly combat tax avoidance behaviors of multinational corporations.

This means that China can enhance its anti avoidance level by fully acceding to the international anti tax avoidance action and stop the tax avoidance channels of multinational companies.

"The action plan launched by G20, called tax base erosion and profit pfer (BEPS)", is the largest reform of the international tax system in the past hundred years.

Liao Tizhong, director of the international taxation department of the State Administration of Taxation, said.

The international rule of income tax was established in the 20s of last century after the end of the first World War. It has been running for nearly a hundred years and is suitable for the traditional economic era, and it solves the problem of double taxation in the initial stage of economic globalization.

At present, more than 50% of the global profits, including China, involve international pactions, increasingly convenient pnational capital flows, and the existence of low tax rates and zero tax rates, such as "tax haven". Many multinational companies evade paying taxes through cross-border pfer of profits and other means. The international community must join hands to reform the existing international tax rules system.

The principle of reform as determined by G20 is that profits are taxed in the place of economic activity and value creation.

Some people in the industry also pointed out that China is the "world factory", creating the value of the world, and China is also the world market, realizing the value of the world.

Generally speaking, the G20 tax consensus is beneficial to China and other countries with rich economic activities, but not to tax havens and low tax countries.

In recent years, global anti tax avoidance cooperation has gone through a wave, and China is actively involved in it.

In August last year, China became the fifty-sixth signatory of the Convention on multilateral tax collection and mutual aid. This is the first international multilateral tax agreement signed by China, which means China has upgraded its anti tax avoidance and international tax administration system by joining the international anti tax avoidance action.

According to the consensus of leaders of the G20 summit, in order to prevent cross border evasion of taxes, nearly 100 countries and regions promised to implement the automatic exchange standard of financial account information on a peer-to-peer basis.

China's full entry into the international anti tax avoidance action and international tax information exchange is an effective way to strengthen anti tax avoidance.

As the largest importing country of foreign direct investment, China has already begun to take the initiative in anti tax avoidance by multinational corporations.

Liao Tizhong told reporters that China's enterprise income tax law, which was introduced in 2008, has set up a more advanced legal framework for anti tax avoidance. In recent years, China's anti tax avoidance has been continuously strengthened, and its direct contribution to taxation has risen from 460 million yuan in 2005 to 46 billion 900 million yuan in 2013.