An October article in China’s government-run People’s Daily newspaper condemned multinational corporations for evading taxes. The article urged the government to prosecute those who moved money out of China through offshore structures and investments. Tax professionals say the article is a telling sign of China’s crusade to retain its fair share of tax income.
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Despite the relief, Brazil’s government has also presented a bill which seeks to re-impose a tax burden on companies’ payroll, one local tax specialist told ITR
While successful pillar two implementation will require collaboration across all units, a combination of internal and external tax advice is at the centre of the effort