China boardroom update - Issue 09, October 2009
Effective tax management is essential for enterprises to keep their tax risks at a minimum and adapt quickly to international business and regulatory environments. In recent years, many global and domestic Chinese companies have been subjected to high tax risks due to shortcomings in their control environment. In an effort to enhance tax management in large-scale enterprises, the State Administration of Taxation recently issued the Guidelines for Large-scale Enterprises to Manage Taxation Risks (provisional) (Guo Shui Fa [2009] No.90).