Daisy Huang and Amber Liu Discuss China’s New VAT Regulations
Daisy Huang and Amber Liu, senior managers of Dezan Shira & Associates’ Corporate Accounting Services teams in Guangzhou and Shenzhen, respectively, welcomed our guests with the opportunity for our company to provide updated and valuable information regarding China’s recent tax reforms.
Managing China’s Tax Reforms
Today, China is undergoing tax reforms in an attempt not only to streamline its tax regime but also to enforce better control and system management. The bulk of recent announced changes affect all companies located in or doing business in China. These businesses are now obligated to take actions to adjust to the new reforms.
With a client-centered focus, our tax experts presented on a number of key topics, including: new VAT regulations and their impact on small-scale and general VAT tax payers; the most common mistakes when applying the VAT tax in terms of fapiao management, business contracts, tax reporting, and the recent changes to China’s tax administration apparatus.