State Taxation Administration, Announcement on Matters Relevant to Application of the Simplified Procedure to Unilateral Advance Pricing Arrangements

Issued: July 26, 2021

Effective: September 1, 2021

Applicability: Unilateral advance pricing arrangements shall apply to affiliated transactions in the three to five tax years as of the tax year in which the day on which the competent tax authority serves on the enterprise the Tax Matter Notice accepting its application falls (Article 7).

The simplified procedure may not apply, for the time being, to unilateral advance pricing arrangements involving tax authorities of two or more provinces, autonomous regions, municipalities directly under the central government or cities with independent development plans (Article 8).

For other matters of unilateral advance pricing arrangements where there is no specific provision herein, the Announcement on Matters Relevant to Improving the Administration of Advance Pricing Arrangements shall apply (Article 9).