China's State Administration of Taxation (SAT) has published Public Notice 64/2016 on new procedures for the improvement of the administration of advance pricing agreements (APAs). Key points of the notice include:
- Companies may enter into APAs with the tax authorities on the transfer pricing principles and methods used for its related party transactions for future periods;
- Unilateral, bilateral and multilateral APAs are available, and all involve the following six-stage process:
- Pre-filing …