CHINA-INTERNAL: CURBS ON TAX EVASION

The People's Daily reported on September 4, 2018 that China has now signed an information sharing agreement with 100 other countries to makes sure that Chinese citizens are paying their taxes abroad, as well. The agreement is called the Common Reporting Standard (CRS). It is governed by the OECD, and is meant to disclose financial and other assets that individuals hold abroad. China will also provide the same information on foreigners to their home countries.





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