The People's Republic of China is actively working on setting up an international tax management system as part of its opening up of the economic landscape. Domestically, the PRC is updating its international tax system and tax collection system while engaging in deep global tax cooperation at the international level. At the end of July 2021, China's double taxation prevention agreements already included 111 nations and regions. In addition, the PRC has signed 3 multilateral tax treaties and 10 tax information exchange agreements.
The Double Taxation Prevention Arrangements have already played a positive role in preventing double taxation of cross-border taxpayers on the part of both parties, thereby increasing tax certainty, strengthening economic cooperation, promoting bilateral capital, technology and personnel exchanges, and advancing tax cooperation .