Memorandum of Understanding on BRITACOM

RECALLING the cooperation priorities of the Belt and Road Initiative (hereinafter referred to as "BRI"), namely policy coordination, facilities connectivity, unimpeded trade, financial integration and people-to-people bond;

ACKNOWLEDGING the growing importance of cooperation in tax matters for removing obstacles in cross-border trade and investment, and boosting coordinated regional development and inclusive growth in economic globalization;

RECOGNISING that strengthened cooperation in tax matters will be increasingly important as the BRI construction gains momentum;

REAFFIRMING the consensus on rule of law in taxation, taxpayer service, dispute resolution and capacity building reached at the BRI Tax Cooperation Conference held in Astana, Kazakhstan during May 14-16, 2018;

DESIRING to strengthen tax administration cooperation and capacity building through the establishment of a structured and institutional BRI Tax Administration Cooperation Mechanism (hereinafter referred to as "BRITACOM") featured by win-win cooperation, inclusiveness and mutual learning under the principle of achieving shared growth through consultation and collaboration;

convened at Wuzhen, the People’s Republic of China, on April 18-20, 2019, for the first Conference of the Belt and Road Initiative Tax Administration Cooperation Forum (hereinafter referred to as "BRITACOF"), and have agreed as follows: