Chi Cheng, Irene Yan and Kelly Liao observe that some of the local tax jurisdictions within China where subsidiaries of foreign multinationals are concentrated, have seen their tax collections in 2012 drop by as much as 30%. Given this overall deterioration of the economic environment, will China continue to press ahead with its aggressive transfer pricing agenda?
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While some believe it could have a positive effect on the wider advisory landscape, others argue that HMRC’s ‘red tape’ exercise won’t deter bad actors
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