The Belt & Road Initiative Tax Administration Cooperation Mechanism (BRITACOM) issued a joint statement in Beijing on Tuesday evening at a high-level video conference, dwelling on the development of tax digitalization amid the pandemic.
The Conference has brought together representatives from 47 Countries & Regions, as well as nine organizations to participate in online discussion, which reached 15 consensuses on three aspects.
The agreement calls for enhanced collaboration on tax collection, in which all parties shall adhere to the principle of consultation and collaboration for shared benefits, to facilitate and liberalize trade and investment in member countries and regions of the Belt & Road Initiative (BRI), and drive to achieve inclusiveness and sustainable development set by the United Nations’ 2030 Agenda for Sustainable Development.
As for promoting tax digitalization, representatives have agreed to adopt smart techniques and innovative management skills to upgrade the tax service ecology.
They also recognized the importance of exploring the application of information technology to taxation, such as enhancing infrastructure construction for taxation big data services, as well as establishing appropriate regulatory mechanism for tax data.
“Countries along the route of Belt & Road Initiatives need taxation to exert its function to protect the legitimate rights of cross-border investors,” said Meng Yuying, who heads the International Taxation Department under the State Taxation Administration.
Attendees of the online conference have reached consensus on planning the construction of the BRITACOM as well.
BRITACOM is one of the multilateral cooperation platforms established under the framework of Belt & Road Forum for International Cooperation. It was launched during the first conference of the Belt and Road Initiative Tax Administration Cooperation, held between April 18-20, 2019, in Wuzhen, East China’s Zhejiang Province.