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The operating landscape for multinational organisations is constantly evolving. Companies must keep up with the accelerating pace of tax, legislative and regulatory developments. Join us for a breakfast seminar with PwC tax experts to discuss the latest and upcoming regulatory changes affecting multinational companies operating in China.
China Transfer Pricing Update
Base erosion and profit shifting (BEPS) refers to tax avoidance strategies that exploit gaps and mismatches in tax rules to artificially shift profits to low or no-tax locations. The BEPS project was initiated by the OECD/G20 and has generated 15 Action Plans as well as a series of subsequent updates and amendments. Currently, under the OECD/G20 Inclusive Framework on BEPS, over 125 countries and jurisdictions are collaborating to implement the BEPS measures and tackle BEPS. China, as part of the Inclusive Framework, has implemented several localised BEPS measures.
Paul Tang, Transfer Pricing Partner at PwC, will cover recent BEPS developments and localisation in China (such as digital economy, latest updates on APA/MAP), as well as the potential impact on multinational companies operating in China.
Recent China VAT Reform and Tax Automation Project Experiences
In recent years, China State Taxation Administration has launched a series of tax reform policies in order to simplify the tax regime, expand the tax base, reduce tax refunds and enhance daily tax administration. These measures are aimed to reduce the taxpayer's burden in order to promote the economy. In the meantime, tax authorities will be able to leverage various technologies by rolling out the Golden Tax III system to enhance tax administration and risk management.
- How should companies respond to the variable tax reforms?
- How should they deal with tax checks/audits under a stricter administrative environment?
Yolanda Lv, Tax Partner at PwC, will share with you recent VAT reform policies and tax automation project experiences.
Speakers
Yolanda Lv
Tax Partner at PwC
Yolanda is a Tax Partner of PwC China, Shanghai Office. She is specialized in indirect tax with more than 13 years of experience.
Since the China VAT reform in year 2012, Yolanda has focused on building efficient indirect tax functions for clients, which includes but is not limited to the strategic VAT function design and implementation, VAT SOPs set-up and improvement, VAT modelling analysis by including international trade, etc.
Digitalizing the VAT process is also one of her areas of expertise. Yolanda leads various invoice and VAT automation projects in China. These projects support finance and tax departm ents in s tream lining their proces s and im prove the tax data analytics capability. Clients cover various industries, e.g. traditional manufacturing/trading companies, high-tech companies, retail & consumer companies, pharmaceutical and chemical companies and all the group companies with shared service centers.
She is also involved in various VAT defense and negotiation projects. She was involved in one of the important VAT ruling applications for the catering industry.
Yolanda has a Bachelor Degree (International Accounting) from the Shanghai University of Finance and Economics in 2005. She is a member of the Fellowship of Chartered Certified Accountants (‘FCCA') and a member of the Chinese Institute of Tax Agents.
Paul Tang
Partner in the PwC transfer pricing practice at PwC
Paul Tang is a Partner in the PwC transfer pricing practice based in Shanghai. He has more than ten years of transfer pricing experience. Paul has worked in PwC Shanghai, Hong Kong, Beijing and Toronto offices.
As one of PwC national transfer pricing core members, Paul assisted clients in successfully concluding China's first Mutual Agreement Procedure (“MAP”) with Japan (corresponding adjustment), two of China's first bilateral advance pricing arrangements (“APAs”) with Europe (Denmark), China’s second BAPA with US, China’s first MAP with Norway (corresponding adjustment), and China’s first bilateral APA with Switzerland.
As a Base Erosion and Profit Shifting (“BEPS”) advisor, Paul is the translator of and responsible for the Chinese version of BEPS Report Action 8-10 (Aligning Transfer Pricing Outcome with Value Creation) and Action 13 (Transfer Pricing Documentation and Country-by-Country Reporting) published by China’s SAT.
Paul was recognised by Euromoney’s Legal Media Group as the Rising Stars 2015 (Transfer Pricing Attorney, China).
Sponsors and Partners
Organizer
Dragon Partners
A special thanks to our Dragon Partners for supporting the Swedish business community in China.
Handelsbanken Beijing Rep. Office
Handelsbanken is one of the leading banks in the Nordic region and Europe’s most cost-effective bank and one of the most solid and profitable banks in the world. Since 1989, when the first customer survey was conducted, we have had the most satisfied customers among the major Nordic banks.
http://www.handelsbanken.com/
