Recently, Wang Jun, Director General of China's State Administration of Taxation has formally signed the multilateral convention Base Erosion and Profit Shifting (BEPS) in Paris, France. The convention’s main purpose is to prevent transnational corporations from abusing tax treaties for tax evasion. The convention provides flexibility for specific tax treaty policies, as well as the implementation of minimum standards prevents abuse of agreements and improves dispute resolution mechanisms so that governments can improve their tax treaties through other tax treaty measures developed by the BEPS project. The signing of the convention addresses not only tax base erosion and profit transfer, as well as providing legal frameworks for multilateral tax cooperation