China has signed tax treaties with 21 African countries

China has signed tax treaties with 21 African countries to date, an official with the State Taxation Administration (STA) said on Monday, adding that Chinese tax authorities are seeking to deepen international taxation cooperation with African countries.

Meng Yuying, head of the International Taxation Department of the STA, made the remarks at a press conference of the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC).

Meng said the African countries that have signed tax treaties with China include basically those with significant direct investment stock with China.

Tax treaties provide an important international legal basis for cross-border investment and business, Meng said, adding that they can prevent double taxation scenarios, provide tax certainty and facilitate the settlement of tax disputes.

"They are conducive to creating a fair, healthy and mutually beneficial international tax and business environment, and to promoting cross-border investment and the exchange of technology and personnel," she said.

Meng noted that the Belt and Road tax collection and management cooperation mechanism was established during the second Belt and Road Forum for International Cooperation in 2019, and that many African countries have joined in its construction.

She said that the mechanism has provided a platform for African countries to engage in international exchange, and that its many training programs have helped improve tax collection and management capabilities in the African countries involved.

Source: Xinhua

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