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AmCham China's Tax Forum is pleased to invite you to attend this seminar on Permanent Establishment (PE) exposure, which is one of the most common issues faced by multinational corporations doing business in China.
In recent months, China's State Administration of Taxation (SAT) issued two important circulars, SAT 2013 Announcement 19 and Shui Zong Han (2013) No. 165. Announcement 19 provides guidance on when cross-border secondment of expatriates by foreign enterprises into China may create a PRC taxable presence. Circular 165 provides some guidance on the assessment of beneficial ownership of dividends under the PRC-HK double tax arrangement (PRC-HK DTA) for the purposes of withholding tax relief.
Since most multinational corporations (MNC) doing business in China have secondment arrangements and face profits repatriation at some point, the new regulations have particular relevance to these taxpayers. During this seminar, the speakers will share their experiences in helping MNC clients to mitigate PE risks and speak about the SAT's plan to enhance PE enforcement in the future.
In recent months, China's State Administration of Taxation (SAT) issued two important circulars, SAT 2013 Announcement 19 and Shui Zong Han (2013) No. 165. Announcement 19 provides guidance on when cross-border secondment of expatriates by foreign enterprises into China may create a PRC taxable presence. Circular 165 provides some guidance on the assessment of beneficial ownership of dividends under the PRC-HK double tax arrangement (PRC-HK DTA) for the purposes of withholding tax relief.
Since most multinational corporations (MNC) doing business in China have secondment arrangements and face profits repatriation at some point, the new regulations have particular relevance to these taxpayers. During this seminar, the speakers will share their experiences in helping MNC clients to mitigate PE risks and speak about the SAT's plan to enhance PE enforcement in the future.
Questions to be addressed include:
• What is the key consideration of the SAT for clarifying the PE assessment criteria in the Bulletin No.19? Will the dual-employment arrangement bring PE risks to non-resident enterprises? What will be the SAT's next focus on PE assessment?
• Uncertainties in determining the BO status of offshore holding companies before Circular No.165. What has been clarified in Circular No.165? What needs to be taken into consideration in a company's future business arrangements?
• What is new under Bulletin 40 on cash remittance? How should MNCs deal with the remittance issue under the new Bulletin 40 regime (effective from September 1, 2013)
* CLE Credit is made available courtesy of Bingham McCutchen LLP, an accredited provider of both California and New York continuing legal education. This activity has been approved for 1.5 general credits in CA and in NY for 1.5 credit hours in Areas of Professional Practice. The content is appropriate for attorneys of all experience levels.
• What is the key consideration of the SAT for clarifying the PE assessment criteria in the Bulletin No.19? Will the dual-employment arrangement bring PE risks to non-resident enterprises? What will be the SAT's next focus on PE assessment?
• Uncertainties in determining the BO status of offshore holding companies before Circular No.165. What has been clarified in Circular No.165? What needs to be taken into consideration in a company's future business arrangements?
• What is new under Bulletin 40 on cash remittance? How should MNCs deal with the remittance issue under the new Bulletin 40 regime (effective from September 1, 2013)
* CLE Credit is made available courtesy of Bingham McCutchen LLP, an accredited provider of both California and New York continuing legal education. This activity has been approved for 1.5 general credits in CA and in NY for 1.5 credit hours in Areas of Professional Practice. The content is appropriate for attorneys of all experience levels.
