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Tax guidelines for “Belt and Road” countries

THE State Administration of Taxation today released a batch of 40 guidelines of taxation issues in countries along the Belt and Road initiative to facilitate outbound investment of Chinese companies.

The guidelines aimed to familiarize investors with policies in investment destinations, prevent taxation risks, and promote healthy development of companies overseas, the SAT said in a statement.

Put forward by President Xi Jinping in 2013, the Belt and Road initiative aims to build a trade and infrastructure network connecting Asia with Europe and African along and beyond the ancient Silk Road trade routes.

The batch of 40 guidelines introduced business environment, main types of taxes, rules of taxation, and bilateral tax agreements between China and the investment destinations.

So far, a total 59 guidelines have been published to cover major overseas investment destinations of Chinese companies.

SAT said it will continue to update the guidelines and expand coverage of the series.

The guidelines were released as concrete progresses have been made under the Belt and Road initiative.

Official data showed China made US$14.53 billion direct investment in 53 countries along the routes last year, and China's exports to Belt and Road countries reached 6.3 trillion yuan last year.

China also signed US$126 billion worth of contracts with the related countries last year.


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