The petrochemical industry, as an important pillar industry of the national economy, has always been concerned about its tax compliance issues. At present, the working mechanism of the eight departments of the country to jointly combat tax-related crimes has been implemented in detail, digital electronic invoices have been promoted and applied nationwide, the reform of tax collection and management has been deepening, and the new round of tax-related risks of enterprises has been fully escalated.On 18 March 2024, the Supreme People's Court and the Supreme People's Procuratorate jointly formulated and issued the ‘Interpretation of Issues Concerning Several Issues on the Application of Law in Handling Criminal Cases of Endangering Tax Collection and Management’. The Judicial Interpretation came into effect on 20 March 2024. The promulgation of the judicial interpretation by the Supreme Law and the Supreme Prosecutor is both a crisis and a new opportunity for the majority of petrochemical enterprises. The demarcation between crimes and non-crimes, and between this crime and that of the other has triggered extensive discussions, especially the application of the crimes of false opening of VAT invoices, illegal purchase of VAT invoices, illegal sale of VAT invoices, and tax evasion. Tax compliance has become a core element for the steady progress and sustainable development of enterprises, and petrochemical enterprises should effectively implement tax compliance in the whole process of corporate governance.
The ‘Petrochemical Industry Tax Compliance Report (2025)’ is a legal research report based on Hwuason Law Firm's in-depth observation of the petrochemical industry for many years and the profound summary of its experience in representing petrochemical industry tax-related cases in 2024. The report aims to reveal the current situation of petrochemical industry's tax-related cases and investigation trends, analyze the major changes in the petrochemical industry's tax-related risks, and put forward the defence strategies and compliance recommendations, with a view to Provide useful guidance for petrochemical enterprises in preventing and resolving tax-related risks.

Click to download: Petrochemical Industry Tax Compliance Report (2025)