On July 1, 2015, the National People's Congress ratified the Council of Europe and the OECD’s Multilateral Convention on Mutual Administrative Assistance in Tax Matters (the “Convention”), as amended by a 2010 protocol that it had already signed on August 27, 2013.

The Convention seeks to combat tax avoidance and evasion, and as of June 30, 2015, all G20 countries and a total of 87 countries and regions have become members to it.

From a practical point of view, ratification of the Convention reflects China’s effort to further integrate and open up its taxation system to the international community, and it implies that China will share information with other members of the Convention regarding all types of Chinese taxes, except for customs duties, after the signed agreement enters into force.

Date of ratification: July 1, 2015.