Group 1: OECD Taxation Insights - The OECD's latest report highlights China's MAP case closure rate exceeds the global average, showcasing effective tax dispute resolution[3] - China's APA closure rate stands at 24.2%, significantly higher than the global average of 18.1%, ranking seventh among jurisdictions[8] - The tax dispute prevention rate in China is 66.7%, well above the global average of 37.8%, placing it fifth globally[8] Group 2: Global Tax Trends - The total number of global MAP cases increased from 2,782 to 2,980, reflecting a growth rate of 7.12%[8] - The average completion time for MAP cases globally is 27.4 months, with transfer pricing cases reduced from 32 months to 30.9 months[8] - The OECD emphasizes the importance of cooperation among tax authorities to enhance tax certainty and prevent disputes[4] Group 3: Future Outlook - Chinese tax authorities are expected to continue engaging with jurisdictions like Italy, the US, Switzerland, Japan, and South Korea to resolve tax disputes[8] - The OECD's best practices are being integrated into domestic regulations by various jurisdictions, indicating a commitment to improving tax administration[7] - The exploration of multilateral frameworks for tax dispute resolution is gaining traction, with a focus on overcoming domestic legal barriers[7]

Core Insights - The U.S. Treasury Secretary, Janet Yellen, stated that the ability to deduct the full costs of equipment and facilities in one go, combined with tax certainty and reduced energy costs, will accelerate economic growth in the United States [1] Summary by Categories - **Economic Growth** - The one-time deduction for the full costs of equipment and facilities is expected to enhance economic growth [1] - Tax certainty is highlighted as a factor that will contribute to this growth [1] - Lower energy costs are also identified as a key element in stimulating economic activity [1]