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China's Convention on Profit Shifting

Recently, the State Taxation Administration ("STA") has issued the Announcement on the Entry into Force of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting in China and Its Application to Certain Tax Treaties (the "Announcement").

The Announcement states that, on May 25, 2022 China deposited its instrument of rectification for the Multilater