Chinese State Taxation Administration

The session began with a formal introduction where, through an interpreter, we shared the CIOT’s history and mission and gave an overview of its qualifications and membership. We explained the organisation’s charitable educational purpose, and that it works for a more effective tax system and to improve public understanding of taxation. We highlighted the work of its technical committees and the Low Incomes Tax Reform Group.

We spoke to the delegation about various tax technical topics. This included a broad outline of the UK’s income tax self-assessment regime, focusing on key administrative processes, registration, filing and payment deadlines, plus the penalties that can be charged for compliance failures. We covered the main elements of the UK’s corporation tax system and international cooperation efforts, particularly in the context of the OECD’s Base Erosion and Profit Shifting project, and how the UK has responded to these initiatives.

Additionally, we discussed the UK’s VAT system, the security measures implemented for international businesses, and the interaction between UK tax policies and the country’s goal of achieving net zero emissions. Our presentation also covered agent standards and the regulation of tax professionals in the UK.

A thought-provoking Q&A session followed, which gave delegates the opportunity to ask us questions and share insights with us about the Chinese tax system. We concluded the afternoon by exchanging gifts. The Chinese presented us with an attractive box containing a plaque depicting pandas with bamboo which is now on display at head office.

This session was a great opportunity for us to exchange knowledge and understanding between our two countries in the field of taxation. In later feedback, the organisers told us that the delegation had gained invaluable insights and experiences from the visit and thanked the CIOT for its assistance and support to the delegation.

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The gift of a plaque depicting pandas was gratefully received.