Starting from May 1, 2016, the Business Tax to VAT (“B2V”) Reform will be expanded to cover the final four areas that were not covered in the pilot stage, i.e., construction, real estate, financial services and consumer services. It signifies the official completion of the long-awaited four-year B2V Reform. What will be the reform’s impact on your business and how to prepare for it?
The following topics will be covered in the tax sharing:
- Overview of the B2V Reform and the progress
- Structure of the China indirect tax system
- Key differences of Business Tax and VAT
- Impact to construction and real estate businesses
- Impact to financial service sector
- How to prepare for the final roll-out of the reform