China’s Tax Offenders Blacklist System in a nutshell

In 2016, the Blacklist system was introduced and implemented as a way of promoting “best practices” for tax recording and reporting among all business activities based in China. The relevant authorities now have the ability to enforce the 18 new disciplinary measures against any business that deem in violation of tax regulations. These new measures include: the restriction of access to governmental funds, the barring of companies leaving China, and the enforced disclosure of relevant information via the National Enterprise Credit Information Publicity System. Additionally, several other penalizing regulations are as follows:[1]

This article was written by  and published on PTL Group. Original Post: http://www.ptl-group.com/blogs/en/chinas-tax-offenders-blacklist-system-in-a-nutshell      

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