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China today is undergoing tax reform in an attempt not only to streamline its tax regime but also to enforce better control and management of the system, hence transforming both tax rules and practices. An example of this is regarding China’s VAT system.
The Chinese government has recently announced changes to VAT application rates as part of a RMB 400 billion (US$64 billion) project in 2018. These changes effectively reduce VAT rates for several industries, modify the criteria for small-scale VAT taxpayers, and introduce special tax exemptions for high-tech industries. The Chinese government expects these recent changes to ease the tax burden for businesses, improve the business environment and streamline the VAT system.
Dezan Shira & Associates has the pleasure to invite you to an exclusive client seminar “New VAT Regulations and the New Era of Tax Administration in China”.
In this presentation, Daisy Huang, Senior Manager for Dezan Shira & Associates’ Corporate Accounting Services, will introduce what are the new VAT regulations and their impact on small and general VAT tax payers, the most common mistakes when applying the VAT tax in terms of fapiao management, business contracts and tax reporting, among others. Finally, explaining the new era of tax administration in China trough the implementation of the credit control system.
Who should attend
As the bulk of these changes have taken effect since May 1, 2018, all companies located in or doing business with China who should take action to adjust to the tax updates and determine how their operations are affected.
The event is free of charge and by invitation only. To RSVP, please contact Juan Rojas