Settling the (tax) score after the fall
In a post-pandemic world where losses (rather than profits) for many businesses could be pervasive, the time may not be ripe now to bulldoze through BEPS 2.0 measures.
DURING the violent Hong Kong protests, a Financial Times article (assertively titled "Beijing will have its revenge on Hong Kong") referenced the Chinese phrase qiu hou suan zhang, in concluding that vengeance by the Chinese government will be forthcoming even if the questions of when and how remain unclear.
With the literal translation of the phrase being "to balance the books after the autumn harvest", that article highlights this Chinese aphorism that can be used in many situations, particularly where the vengeance aspect is almost certain but an element of patience is required in the circumstances.
THE MESSAGE FOR RELEVANT AUTHORITIES AND TAXPAYERS
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