China's Practice Research On "Automatic Exchange Of Tax Information In Financial Accounts"

The rapid development of economic globalization has made taxpayers evade taxation obligations of resident countries by transferring assets to overseas financial institutions.In July 2013,the G20 and OECD initiated 15 action plans to address tax base erosion and profit transfer(“BEPS”)issues.In July 2014,the OECD issued the “Automated Exchange of Tax Information for Financial Accounts(AEOI Standard)”.This paper starts from the study of the practice of the “AEOI” in China.The innovation lies in the fact that after reading the research literature of domestic and foreign scholars,it integrates with a comprehensive perspective but focuses on the research.The problems in the development and response of China's "AEOI".We will work hard to address the problems.The first part mainly writes the background of the topic and the research status at home and abroad;The second part introduces the internal structure of “AEOI”and the related “The Multilateral Tax Administration and Mutual Assistance Convention”,“The Multilateral Competent Authorities Agreement and so on;The third part sorts out the practice process of China's response to “AEOI” and lists some countries that are currently cooperating with China;The fourth part is from the aspects of legislative guarantee,collection and management system and other issues.The specific problems exist in the legislative guarantees.Try to put forward the legislation,revision and improvement of “The Anti-Money Laundering Law”,“The Individual Income Tax Law”,“The Trust Fund Law” and so on;The problems in writing the information support system,the financial account cooperation enthusiasm,the pressure on the financial institutions themselves and the lack of grassroots information exchange personnel.The fifth part draws on the advanced experience of developed countries in solving these specific problems and attempts to propose countermeasures for China.It is possible to adopt the “Golden Tax Phase III”to plan and develop an automatic exchange platform and improve data processing capabilities.In terms of improving the enthusiasm of financial accounts,it is recommended to introduce legal obligations.On the issue of reducing the pressure on financial institutions,they are recommended to carry out gap analysis as soon as possible and pay full attention to the role of third-party information.