During the first conference of the Belt and Road Initiative Tax Administration Cooperation Forum (BRITACOF), ITIC President Daniel Witt signed a Memorandum of Understanding with the China Chamber of International Commerce (CCOIC) and the China International Tax Research Institute (CITRI). The MoU formally establishes cooperation between the three organizations to assist BRI jurisdictions as they undertake reforms to improve trade and investment in the region.

As initial steps under the MoU, the three partners organized several industry-specific workshops (digital economy and e-commerce; engineering, construction and services; and oil, gas, and mining) earlier this week in Beijing to identify the most important tax issues facing companies in the BRI countries. A report on the workshops will soon be presented to the PRC State Tax Administration (STA).