The OECD Public Discussion Draft on BEPS Action 14 (released on 18 December 2014) covers extensively dispute resolution mechanisms and ways to make them more effective. The subject has grown in importance as Mutual Agreement Procedures (“MAP”) have increased significantly especially on transfer pricing cross border adjustments. In this context, the BEPS Discussion Draft states…

I would like to use eight to ten posts to discuss the status quo of China’s fiscal and taxation law system and proposals for reform thereto. This first post will discuss the most recent development on PRC Budget Law. State budget is a systematic tool to carry out a country’s laws and policy decisions, balance allocable…