FirstFT: China launches global tax hunt

China has initiated a global tax initiative targeting multinational corporations to ensure they pay appropriate taxes in all jurisdictions where they operate, aiming to prevent profit shifting and base erosion. This move is significant as it addresses international tax avoidance practices and could reshape global corporate tax strategies. The initiative comes amid increasing global scrutiny on tax practices of large firms, highlighting China's growing role in international economic governance. For more details, check out the full article on the Financial Times website.