Recently, a roundtable conference on government-enterprise cooperation for foreign investment and trade was held in Huai'an City, jointly organized by the Huai'an Tax Bureau, the Huai'an Municipal Bureau of Commerce, Huai'an Customs, and the Administrative Committee of the Huai'an Economic and Technological Development Zone. The event also included a signing ceremony for a unilateral Advance Pricing Arrangement (APA) between the Huai'an Tax Bureau and Hankook Tire.

During the conference, officials from the Huai'an Tax Bureau, the Huai'an Municipal Bureau of Commerce, and Huai'an Customs presented relevant policies related to foreign investment and trade. Representatives from 12 foreign trade enterprises, including Jiangsu Hankook Tire Co., Ltd., Shihlien Chemical Industrial Jiangsu Co., Ltd., Qingding Precision Electronics (Huai'an) Co., Ltd., and Thermos (Jiangsu) Housewares Co., Ltd., shared their insights on promoting high-quality development of the outward-oriented economy based on their own experiences.

The Huai'an Tax Bureau and Hankook Tire held the first unilateral APA signing ceremony in Northern Jiangsu. This arrangement not only provides strong tax certainty support for Hankook Tire, reducing the tax costs of cross-border transactions and enhancing the overall competitiveness of cross-border operations, but also offers robust support for stabilizing foreign investment, managing expectations, and optimizing the business environment in the Huai'an Economic and Technological Development Zone, allowing it to better serve the overall development strategy of the city.

Unilateral APAs are a representative measure in international tax management. Multinational enterprises apply to tax authorities, and both parties engage in consultations based on voluntary, equal, and mutually trusting principles, focusing on pricing principles and calculation methods for related party transactions. This ensures that the enterprise maintains an agreed-upon profit level for the next 3 to 5 years.