International Practice of the Mandatory Disclosure Rules for Tax Planning and China's Response
The mandatory information disclosure rules for tax planning first appeared in the United States in the 1980s to cope with the surge in personal tax avoidance measures for large-scale sales and were introduced to Cana-da.In the 2000s,the rules further expanded the scope of the original tax avoidance registration system to include tax planning involving taxpayers such as companies and trusts,and required the reporting of certain"listed transac-tions"and other transactions containing certain identifiable characteristics that might be related to tax avoidance.The extended rules have also been borrowed by countries such as the United Kingdom and South Africa.Since 2015,the mandatory disclosure rules for tax planning began to spread across the globe more rapidly and an interna-tionalization trend was formed,shifting from domestic measures focusing on domestic tax avoidance transactions to multilateral standards to address cross-border tax avoidance and tax evasion issues.The content and subject matter of mandatory disclosure continued to expand and the way to exchange information among jurisdictions was estab-lished.At present,the mandatory disclosure rules for tax planning,as a major component of the international cam-paign to combat tax avoidance and tax evasion,have evolved from a targeted domestic legal measure for initiators of large-scale market tax avoidance to a broader and more general disclosure standard.China should follow the trend of expansion and internationalization of the rules and establish its own rules in response.
Tax PlanningMandatory Disclosure RulesDAC 6CRS MDRsResponse to Rules
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