In the aftermath of the 2008 financial crisis, governments were forced to reduce public spending, increase taxes and implement a wide range of austerity measures, while many companies received taxpayer-funded bailouts.
Like any good organization, tax authorities need to continually adapt to the times they are in.
Editor's note: Five tax administration chiefs discuss the challenges and opportunities presented by tax reforms ahead of the opening of the Forum on Tax Administration.
The State Administration of Taxation has been cooperating with the Organization for Economic Cooperation and Development in offering taxation training for nearly 20 years.
In recent years, China has been participating globally on the formulation of international taxation rules and building new partnerships. China has been participating more in global economic governance and has made tremendous efforts to improve its ability in the collection and management of taxes with other developing countries and low-income countries.
The Forum on Tax Administration, which was created in 2002, is a unique forum for cooperation between commissioners from 46 OECD and non-OECD members.
Two nations hope to upgrade FTA this year, Wang Hongyi reports.
With the development of friendly relations between Singapore and China, economic cooperation between the two countries is now expected to enter a new phase.
Authorities in Dabu county, Guangdong province, have been working on the construction of "Lee Kuan Yew's Homeplace" to commemorate Singapore's first prime minister.
The formalizing of diplomatic relations between Singapore and China in October 1990 was the end result of two important past visits: the first by late Singaporean prime minister Lee Kuan Yew, who came to China in 1976; the second by late Chinese leader Deng Xiaoping, who visited Singapore in 1978.
Singapore and China look to build on burgeoning economic ties, Zhuan Ti reports.
There may emerge opportunities for Chinese automakers to acquire Mitsubishi Motors now that its market value has nosedived after it admitted to cheating on its fuel economy data, experts said.
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