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Three Departments Share Information for Joint Supervision Crack Down on Smuggling, Tax Rebates Frauds and Foreign Exchange Evasion and Frauds

Issuance Date: April 27, 2017     Source: Legal daily

The General Administration of Customs (GAC), the State Administration of Taxation (SAT) and the State Administration of Foreign Exchange (SAFE) have recently signed the Framework Agreement on Cooperation Mechanism for Information Sharing and Joint Supervision (“Framework Agreement”), to accelerate efforts in promoting cross-departmental information sharing, mutual recognition of supervision, and mutual assistance in law enforcement, continuously refine ongoing and ex-post regulation, improve management efficiency, reduce management costs, better prevent and crack down on smuggling, export rebates frauds, foreign exchange evasion and frauds as well as other illegal and violating actions, so as to safeguard the effective implementation of the national Customs, taxation and foreign exchange policies.

In line with the principle of “connectivity, collaborative supervision, joint risk governance as well as convenience and ease of use”, the three parties make full use of their advantages in their respective regulation and law enforcement areas to strengthen in-depth cooperation. Under the principle of security, confidentiality, necessity and adequacy, the three parties will share and use the information and data among them and ramp up data utilization efficiency, in a bid to jointly promote the enhancement of foreign trade supervision efficiency.

The GAC, the SAT and the SAFE have also signed an MOU on Cooperation respectively, to define the specific cooperation fields and responsibilities, collaboratively promote all-round cooperation of the three parties with respect to feedback on collaborative investigations and joint supervision in regional branches and sub-branches, and jointly implement joint incentive and punishment measures.

According to sources, the customs, taxation and foreign exchange authorities will continue to strengthen cooperation, further enhance regulation in their respective enforcement fields, and create management synergies in the future, so as to better serve the building of the social credit system and the healthy and sustained economic development in China.

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