Steps aim to upgrade systemand raise level of global cooperation

Tax authorities in China are contemplating more measures to plug existing loopholes, along with steps to bring the nation's taxation system on par with other international peers, a top tax official said on Tuesday.

Zhang Zhiyong, deputy director of the State Administration of Taxation, said during a meeting of tax officials that the administration is taking steps to "upgrade" the current taxation system, a multi-faceted project that includes greater international cooperation, modernization of the domestic taxation laws and fighting tax avoidance.