Beijing Optimizes International Tax Services

On December 20, 2022, Beijing issued the Work Plan for Reform of the Whole Process of Balance of Payments Facilitation in the Construction of “Two Zones” (“Work Plan”).

The Work Plan focuses on improving the facilitation level of foreign exchange business under the current accounts, promoting the reform of foreign exchange business facilitation under the current accounts, promoting cross-border RMB settlement business, enhancing the risk prevention and control capabilities of enterprise, and improving the management and service level of the balance of payments in Beijing Pilot Free Trade Zone and National Comprehensive Demonstration Zone for Expanding Opening-up of the Service Sector.