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There is no such thing as a quiet year for China's tax system.

The drivers and nature of increased IIT enforcement efforts by the Chinese tax authorities are considered in this chapter by Michelle Zhou, Chris Ho, Vincent Pang and Angie Ho

The highly significant changes to transfer pricing guidance planned for under the SAT’s public discussion draft on ‘Special Tax Adjustments’ (yet to be finalised at the time of writing), and the impact of these changes in the light of evolving Chinese transfer pricing enforcement practice is the focus of this chapter by Chi Cheng, John Kondos, Simon Liu, and Kelly Liao

In 2016 MNEs should in particular be alert for the following anticipated China tax developments

The Year of the Sheep, now drawing to a close, has been a signature year both economically and fiscally for China. China had surpassed the US as the world's largest economy, in purchasing power parity terms, in 2014. It had similarly become the world's largest recipient of foreign direct investment (FDI), also overtaking the US, in that year. Remarkably, while China takes the top position as a recipient of FDI, Chinese outbound direct investment (ODI) is projected to overtake FDI for 2015 as a whole, making China a net exporter of capital. Projections further show China overtaking the US in ODI terms to become the world's premier source of ODI within a short few years. There is no doubt that China is becoming ever more central to the global economic order. Nevertheless, as the Chinese government seeks to shift her economy from reliance on investments, exports and heavy industries to a more consumption and service sector-driven model, the pace of economic expansion in China will ease off before picking up again. In the meantime, the government will go to every length to safeguard her tax revenues.

The progress with, and challenges of, rolling out the FATCA and CRS technology and platforms in Hong Kong and Chinese financial institutions is the focus of this chapter by Charles Kinsley, Khoonming Ho and Lewis Lu

The G20/OECD BEPS proposals are being rolled out into Chinese tax law and practice, with implications for multinational enterprises (MNEs) doing business in China. The focus of this chapter by Chris Xing, William Zhang, Lilly Li and Conrad Turley is recent and upcoming regulations and guidance which are positioning China at the forefront of global BEPS implementation

The changing face of the Chinese tax administrative environment, and the shifting of more responsibility to taxpayers, coupled with greater tax authority scrutiny, is the focus of this chapter by Tracy Zhang, Grace Xie, David Ling and Karmen Yeung

The 2015 enhancements to China’s restructuring tax relief rules, the challenging new indirect offshore disposal rules in SAT Announcement 7, developments in financial instrument tax classification and the revamped tax treaty relief procedures are the focus of this chapter by John Gu, Paul Ma, Josephine Jiang, Chris Mak and Yvette Chan

Potential expansion of the VAT base, modernisation of rules and systems to better capture cross-border dealings in intangibles and services, as well as the deployment of Big Data analytics by the tax authorities to refine and enhance VAT administration are the themes dealt with in this chapter by Lachlan Wolfers, Shirley Shen, John Wang and Jean Li