Finance and Taxation Working Group Position Paper 2018/2019 - 财务与税务工作组建议书2018/2019 Go back »

  • Published on:
    2018-09-18
  • Category:
    Position Paper
  • by:
    Finance and Taxation Working Group / Forum
  • Keywords:

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Taxes, customs and other levies are the essential tools of governments looking to finance their national needs, government functions and other public expenditures. Societies without functional financial systems cannot adequately cater to their citizens’ needs and will struggle to develop. One prerequisite is citizens’ willingness to pay taxes. Therefore, efficient, transparent and non-corrupt public entities are essential to maintaining sufficient tax revenues.

Taxes and customs may have multiple, and sometimes contradictory, political and economic purposes. To address this, tax and customs policies may need to incentivise certain activities while discouraging others or risk market distortions. Hence, the tax system’s design is at the core of public governance.

Businesses in China, including European ones, contribute to public development by paying government levies. Their investment decisions in China are less influenced by favourable tax policies and more by open and fair competitive landscapes, and rational and efficient regulatory environments.

The Finance and Taxation Working Group consists of member companies that range from multinational corporations (MNCs) to law firms operating inside China. The objective of the working group is to engage in an effective dialogue with regulators in order to develop a more workable, coherent and integrated set of taxation, finance and accounting rules, in line with international best practices. The working group's recommendations are not sector specific but represent the interests of all member companies of the European Chamber.

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