The Shenzhen Customs Authority and Municipal Tax Bureau issued Shenguanshui [2022] No. 62 (Circular 62) on 18 May 2022 to formally launch a new approach to collaboratively manage transfer pricing matters related to goods imported from overseas related parties. This new collaborative management provides institutional standards of transfer pricing to the Customs Authority and is also the first-ever formal cooperation between the customs and the tax authorities in relation to transfer pricing.
Source EY
