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As the relationship between Korea and China strengthens and the importance of Chinese market rapidly grows, this paper analyzes the Chinese tax system and current issues. The paper can be summarized as follows:
First, we must understand the Chinese perspective that tax system is one of the most important policy means to achieve national goals, an expression of national rights and interests, and belongs to the deeds of national governing.
Second, we must predict future tax reforms properly and take appropriate measures.
Third, China has recently promoted preferential tax policies for high-tech industries such as IT & BT and the field of infrastructure. we must pay continuous attention to the preferential tax policies for foreign investments.
Fourth, we must understand the recent changes in the partial return system of VAT and take appropriate actions under the given situation.
Fifth, as the State Administration of Taxation is strengthening its transfer pricing system and preparing relevant database, we must keep an eye on the transfer pricing system.