China Customs May Expand Voluntary Disclosure Program Nationwide
Tax Newsflash:July 16, 2015/China
China's General Administration of Customs (GAC) is considering the possibility of expanding the pilot Customs voluntary disclosure program (VDP) that has been introduced in certain local Customs offices to apply on a nationwide basis. Guidance may be issued in mid-2016 that would establish a consistent nationwide approach to the VDP. (Tax Newsflash:July 16, 2015/China)
On 19 June 2015, Deloitte hosted a roundtable discussion in Shanghai on the Customs VDP. During the event, Mr. Yao Weidong, director of the Audit Division of the Shanghai Customs Office, indicated that the GAC has been exploring the possibility of formally introducing a nationwide VDP and he shared relevant information on the potential program with attendees. The current pilot VDP and possible proposals regarding the national VDP are described below.
(1) Current pilot program
(2) Expansion of pilot and consideration of nationwide roll-out
(3) Outlook on national VDP guidance
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