Event Details
AmCham China, Tianjin's monthly executive breakfast is a great opportunity to meet the members of the 2016 Executive Committee and become involved in the Tianjin professional community. Network and share information with your fellow members, while enjoying a delicious breakfast at a great price.
The guest speaker for this month will be Mr. Xin Wang, Tax Director of Deloitte Tianjin. Previously with Deloitte US, other Big 4 firms and a large-US based MNC, Xin has 15 years of tax experience in US domestic, China domestic and international taxation. From 2005 to 2010, Xin was part of Washington National Tax, Deloitte's premier think-tank, and has since dedicated much of his time to tax planning and tax policy research.
Over 4 years into its largest tax reform initiative since 1994, China has recently announced the official schedule to roll out the reform nationwide across all industries. This means the Business Tax, a cascading turn-over tax, which is the single biggest contributor to subnational level tax revenue, will be repealed and, the four remaining sectors (namely real estate, construction, everyday services, and financial services) still covered by the BT after multiple rounds of VAT reform pilot expansions, are finally under the VAT. How does this impact your company if it's already under the VAT? What if you're in an industry which just became VAT-able? How do you prepare your finance/tax department in this new era of VAT? How likely will the government be able to keep its promise of "revenue neutrality“๏ผThrough a presentation and the Q&A session, Xin and his team will walk you through these practical questions and many more. In addition, Xin will also share interesting observations of some of the idiosyncrasies of China's VAT as compared with international "norms".
The guest speaker for this month will be Mr. Xin Wang, Tax Director of Deloitte Tianjin. Previously with Deloitte US, other Big 4 firms and a large-US based MNC, Xin has 15 years of tax experience in US domestic, China domestic and international taxation. From 2005 to 2010, Xin was part of Washington National Tax, Deloitte's premier think-tank, and has since dedicated much of his time to tax planning and tax policy research.
Over 4 years into its largest tax reform initiative since 1994, China has recently announced the official schedule to roll out the reform nationwide across all industries. This means the Business Tax, a cascading turn-over tax, which is the single biggest contributor to subnational level tax revenue, will be repealed and, the four remaining sectors (namely real estate, construction, everyday services, and financial services) still covered by the BT after multiple rounds of VAT reform pilot expansions, are finally under the VAT. How does this impact your company if it's already under the VAT? What if you're in an industry which just became VAT-able? How do you prepare your finance/tax department in this new era of VAT? How likely will the government be able to keep its promise of "revenue neutrality“๏ผThrough a presentation and the Q&A session, Xin and his team will walk you through these practical questions and many more. In addition, Xin will also share interesting observations of some of the idiosyncrasies of China's VAT as compared with international "norms".
