Nur-Sultan Action Plan Strengthens Tax Ties amid China's Belt and Road Initiative
Introduction to the Nur-Sultan Action Plan
The Nur-Sultan Action Plan signifies a pivotal effort to enhance tax administration cooperation among key stakeholders in the frame of China's Belt and Road Initiative. By focusing on initiatives such as transfer pricing discussions with fellow countries and leveraging insights from academic contributions, Kazakhstan emerges as a collaborator in this expansive framework.
Understanding the Belt and Road Initiative
- Beijing's longstanding objective to revitalize the ancient Silk Road
- The infrastructure creations associated with the initiative
- International cooperation on tax matters among participant nations
Expanding Tax Cooperation with Hong Kong and Macau
The Nur-Sultan Action Plan also emphasizes cooperation with jurisdictions such as Hong Kong and Macau. Recently, Hong Kong recorded significant achievements by reinforcing agreements aimed at avoiding double taxation:
- 15 comprehensive double taxation treaties signed since 2003
- 60% of these treaties signed with Belt and Road nations
Prospective Impact of Enhanced Cooperation
According to Chief Executive John Lee Ka-chiu, these strategic partnerships demonstrate a commitment to boosting relations with local economies. As more tax officials collaborate, opportunities for growth expand:
- Tax certainty established for cross-border operations
- Increased participation in training for handling international tax complexities
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.