Tax Cooperation On “One Belt One Road" Initiative Removes Trade Barriers

; posted on
May 24th, 2018

The Conference on Tax Cooperation within the framework of the "One Belt One Road" Initiative was held by the tax agencies of China and Kazakhstan and the OECD from May 14 to 16. Delegates from over 50 countries, regions and international organizations arrived in Astana, the capital of Kazakhstan, to attend the conference.

Four Significant Consensus on Taxation Reached

Despite the differences in economic conditions and cultures amongst jurisdictions participating in the Belt and Road Initiative, they share common challenges. Delegates reached consensus on four correlated tax matters: improving the rules of international taxation and eliminating the tax barriers to create a better environment for trade and investment; innovating cross-border tax services such as promoting digitally advanced tax administrations; expanding bilateral and multilateral tax cooperation to jointly build the tax management capacity; improving the efficiency and enforcement of tax dispute settlement to enhance certainty for investors.

Astana Proposal Presented as the Output of the Conference

To enhance coordination and cooperation in tax matters, all parties agreed that a stronger support is highly needed. As an important output of this conference, the Astana Proposal was presented to establish long-term taxation cooperation. Wang Jun, Director of China’s State Administration of Taxation, emphasized that the establishment of long-term taxation cooperation for participants of the Belt and Road Initiative is the way to improve governance in international taxation, continuously creating a more supportive environment for investment and boosting global economic growth.

Sources: SCIO-Gov, Sohu

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