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On Tuesday, December 6, Alan Wu of PricewaterhouseCoopers China (PwC China) and Andrew Zhu of Deloitte will give presentations on China's value-added tax (VAT) and indirect tax reform. Following the presentations, Lloyd Peng of Cummins and Vice Chair of the AmCham China Tax Forum will moderate a question and answer session.
The Chinese government is planning to expand the scope of the VAT system in China to include items that are currently subject to business tax (BT). It was recently announced that Shanghai will participate in a pilot program for these reforms, with the transportation and "modern services" industries in Shanghai to start charging VAT on services from January 1, 2012. The pilot program will impact many businesses, including businesses that are not participants in the pilot program but have business dealings with those participants. It is essential for businesses to understand how they will be affected by these reforms so that they can manage any impacts and take advantage of any opportunities that may exist.
The Chinese government is planning to expand the scope of the VAT system in China to include items that are currently subject to business tax (BT). It was recently announced that Shanghai will participate in a pilot program for these reforms, with the transportation and "modern services" industries in Shanghai to start charging VAT on services from January 1, 2012. The pilot program will impact many businesses, including businesses that are not participants in the pilot program but have business dealings with those participants. It is essential for businesses to understand how they will be affected by these reforms so that they can manage any impacts and take advantage of any opportunities that may exist.
In this presentation you will learn about:
• Key aspects of the pilot program;
• Background to the reforms; and
• What the impact could be to your business.
The presentation will also provide some practical considerations on how your company could manage the transition and the steps to take to ensure that your company addresses key business, commercial, and technical issues related to the change.
• Key aspects of the pilot program;
• Background to the reforms; and
• What the impact could be to your business.
The presentation will also provide some practical considerations on how your company could manage the transition and the steps to take to ensure that your company addresses key business, commercial, and technical issues related to the change.
