The First Conference of the Belt and Road Initiative Tax Administration
Cooperation Forum held and the tax cooperation mechanism established
Heads and their representatives of tax administrations or finance departments from 85 jurisdictions, 16 international organizations, and a number of academic institutions and businesses met in Wuzhen during 18th-20th of April, 2019, for the first Conference of the Belt and Road Initiative Tax Administration Cooperation Forum (BRITACOF), organized with the support and under the Presidency of the State Taxation Administration of the People’s Republic of China (STA), and attended by more than 350 delegates from the BRITACʘM Member and Observer Tax Administrations, and representatives from the International Monetary Fund, the Center of Tax Policy and Administration from the Organization for Economic Co-operation and Development, the World Bank Group, the UN and other international organizations, academic institutions and multinational enterprises. The discussions focused on how to build a growth-friendly tax environment that would promote economic growth while ensuring tax revenue mobilization in jurisdictions that support the Belt and Road Initiative (BRI jurisdictions).
The Belt and Road Initiative Tax Administration Cooperation Mechanism (BRITACʘM) was officially launched on the first day of the BRITACOF Conference. The Wuzhen Statement was released where the 34 Member Tax Administrations, 22 Observers, 19 BRITACEG Members and 14 BRITACEG Partners of the BRITACʘM reached consensus on building a growth-friendly tax environment by following rule of law in taxation, expediting tax dispute settlement, raising tax certainty, streamlining tax compliance and digitalizing tax administration, and enhancing tax administration capacity. The Wuzhen Action Plan (2019-2021) was adopted subsequently, providing a two-year roadmap as a first step to attain the longer-term goals of the BRITACʘM.
Building on the outcomes of the Belt and Road Initiative Tax Cooperation Conference held in Astana, Kazakhstan during 14-16 of May, 2018, the first BRITACOF Conference ushered in a new era for the Belt and Road tax administration cooperation. With the concerted efforts of all the participating parties, the first BRITACOF Conference delivered concrete outcomes, marking a milestone in strengthening tax administration cooperation among BRI jurisdictions towards a growth-friendly tax environment that will contribute to the building of a multilateral tax administration cooperation system and the fulfillment of an inclusive and sustainable economic growth under the framework of the Belt and Road Initiative.
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