IMF and China’s State Administration of Taxation Strengthen Technical Cooperation on Tax Policy and Administration Reform in China
China’s State Administration of Taxation (SAT) and the International Monetary Fund (IMF) signed today in Washington a Letter of Understanding (LOU) on a technical cooperation project on advancing tax policy and administration reform in China.
IMF Deputy Managing Director Carla Grasso made the following statement:
“China has made great strides in reforming and modernizing its tax system. I am proud of the excellent ongoing technical cooperation between China and the IMF, and pleased to sign this new agreement to continue our fruitful cooperation as China rolls out its full-scale transformation of the Business Tax to a Value Added Tax, and as China deepens its reform of the tax administration system.”
“The SAT and the IMF have had a long and productive history of technical cooperation in tax policy and administration. We look forward to strengthening our cooperation in the tax area, to support China’s tax modernization campaign and the implementation of China’s tax reform agenda in the 13th Five-Year Plan,” Mr. Jun Wang, SAT Commissioner, said.
Source: IMF
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