More tax agreements seen boosting foreign, local firms

Both domestic and foreign companies are expected to enjoy more tax preferential policies for the Belt and Road economies, after eight more bilateral tax treaties are signed this year, officials with the nation's top taxation administration said.

The authorities will strengthen policy communications, they said. It will send officials abroad to major economies along the Belt and Road with large scale outbound investment projects to help resolve tax disputes and provide consulting services, according to Meng Yuying, deputy head of the international taxation department at the State Administration of Taxation.

Guo Yong, a senior official with the Shandong provincial taxation bureau, said although tax treaties were not signed to specifically serve companies with investment projects along the Belt and Road, they were certainly expected to benefit from the initiative in the future, considering its major importance.