China gains 24b yuan via anti-tax-avoidance
Updated: 2012-05-02 17:38
China's anti-tax-avoidance activities secured 23.9 billion yuan（$3.79 billion）from multinational corporations in 2011, China Youth Daily reported Wednesday, citing Wang Li, vice-director of the State Administration of Taxation.
Transfer pricing is a common way for multinational corporations to avoid tax, China Youth Daily reported, citing a source with the Gansu branch of the State Administration of Taxation.
Multinational corporations shift $35 billion of profits from developing counties annually, which are taxable but are often not taxed, said He Yang, a lecturer with the School of Taxation of Central University of Finance and Economics.