During the last few years, governments in many countries including China have been continuously encouraging good corporate governance and developing guidance for sound tax risk management. Despite these countries’ diverse regulatory and business environments, they all come to the understanding that an effective tax risk management system is vital for both tax authorities and large taxpayers.
Due to rapid economic growth and limited government resources, the tax authorities in China started to focus on the tax administration of large-scale enterprises in recent years. Since 2009, a series of regulations are issued to address the tax administration in this regard.
KPMG China’s Tax Risk Management Services team can provide a range of services to you to develop and implement an effective tax risk management system within your organisation, like work with management to assess the challenges facing, stress test the existing tax governance framework and control environment across the taxes to assess its adequacy and identify sustainable enhancements.