It has emerged that the Chinese and Korean authorities signed their first advance pricing agreement (APA) earlier this month.
According to official reports, the APA covered an - as yet unnamed - Korean manufacturing firm with Chinese subsidiaries.
The agreement was signed at the 12th Korea-China Bilateral Commissioners’ Meeting in Seoul on November 6, 2007.
The signatories to the deal were Han Sang-Yool, Deputy Commissioner of National Tax Service of Korea, and Qian Quanlin, Deputy Commissioner of State Administration of Taxation.
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