Time to comply: PRC implements CRS rules

Author: | Published: 24 Aug 2017

Chinese financial institutions have started carrying out due diligence on customers’ tax residency as devised by the CRS. But some questions still remain

On May 9 2017, six Chinese administrative and regulatory agencies jointly promulgated the Administrative Measures for Due Diligence on Non-Resident Financial Account Tax-Related Information (the Measures). These became effective on July 1, a significant step forward made by China in implementing the OECD's common reporting standards (CRS) for the automatic exchange of information (AEOI)....



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