The world will see VAT further increase in importance as a revenue raiser for countries and there will be ongoing change to its scope and mode of operation. Lachlan Wolfers makes predictions for the coming years.

China has seen the continued evolution of its transfer pricing (TP) enforcement towards a data-based administrative approach, and away from aggressive audits. Xiaoyue Wang and Choon Beng Teoh explore the latest trends.

Outbound Chinese investment is now taking place against the backdrop of an increasingly robust and supportive TP framework. Xiaoyue Wang, and Choon Beng Teoh examine issues such as the MAP and APA programmes.

China merged its previously separate state and local tax authority systems in 2018. This has provided a basis for improvements in tax administration and services, and required taxpayers to adapt. Michael Li, Tracey Zhang and Fang Wei explore the changes.

In the context of a changing global trade and investment environment, and China’s economic slowdown, tax enforcement approaches are evolving and maturing. Chris Xing and Conrad Turley trace the latest trends.

Recent years have seen striking changes in the VAT landscape, both in China and overseas, in relation to the scope of the tax, its mode of operation and the technology underpinning it. Lachlan Wolfers reviews a series of predictions made in 2014.