“China will comprehensively monitor the profit levels of foreign companies to make sure there is no base erosion and profit shifting,” Zhang Zhiyong, deputy director of the State Administration of Taxation (SAT) said December 1, the government’s news agency, Xinhua, has reported.
Zhang also said that China intends to coordinate with other countries to clamp down on base erosion and profit shifting and cross-border tax avoidance, according to Xinhua,
The full text of Zhang’s comments, which were delivered in response to reporters’ questions about the SAT’s efforts to combat tax avoidance, are reprinted on the SAT website in the Chinese language.
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