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Tax compliance index launched, Hengqin scores 84.99

The pilot free trade zone of Zhuhai – Hengqin New Area – has launched a tax compliance index, the first system in Mainland China that performs quantitative analysis on the level of compliance of taxpayers. According to the press release posted by the Hengqin New District Administrative Committee (HDAC), the compliance index for Hengqin is […]

The pilot free trade zone of Zhuhai – Hengqin New Area – has launched a tax compliance index, the first system in Mainland China that performs quantitative analysis on the level of compliance of taxpayers.
According to the press release posted by the Hengqin New District Administrative Committee (HDAC), the compliance index for Hengqin is 84.99, which indicates a generally high level of compliance. Some 343 big corporates reside in Hengqin, none of which was rated as low compliance in paying tax. Some, in fact, obtain a high compliance level of 93.29.
In order to provide a more transparent level of tax system, the head of Hengqin’s tax department, Huang Yong, has introduced a platform which collects related data from taxpayers, with an automatic calculation system for analysis which allows flexible management of corporates’ data.
The newly launched system differs from conventional tax compliance level analysis by evaluating the level of internal monitoring performed by corporations, the willingness, ability and behaviour of taxpayers in paying tax. In specific terms, for instance, the system would look at the participation level in the internal works regarding tax payment displayed by the management of corporations as well as the level of understanding of tax policies.
The new system also allows corporations to prevent risks in tax payment by referencing data from the system and providing more accurate data for the tax department in managing and categorising taxpayers.

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