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Warmly welcome to join this highly interesting half day seminar together with PwC. The main topics of
the seminar will be transfer pricing and customs, covered in four different talks. Following the main talks,
a panel discussion about concerns in managing the customs valuation challenge on transfer pricing will
be held. Further down in this invitation you can find more details regarding each topic and speaker.
This event is organized by the Finnish Business Council in Shanghai with all of the other Nordic Chambers.
Time: Friday, September 4th, 2020, at 08:30 - 11:45
Venue: Shanghai Innovation Center, 3/F, No.168 Hu Bin Road, Shanghai, China
Price: This event is free for SwedCham Members.
Read more about the agenda and speakers down below.
Topics
Interim Duty Rate (IDR) Application in China
IDR is a preferential tariff treatment given by the Chinese government to facilitate the importation, upgrade the industrial structure as well as benefit peoples' living standard. For example, the product subject to IDR will enjoy like 0% or only a half of the normal Most Favoured Nation Duty Rate (MFN). In 2020, over 850 products obtain the IDR, especially for these of high-tech, high quality and high demand in China market. The application procedure is standard and conduced by China customs annually.
Alex Qian, a Worldtrade Management Service Partner at PwC, will introduce recent policy, procedure and hot topics of IDR application in China, as well as some case sharing for your reference.
New Exploration and Prospect of Customs Valuation with regard to Transfer Pricing
Customs valuation challenge on transfer pricing has always been a focus from a lot of MNCs. Especially, with Customs' reform to set up the Duty Collection Center for performing the industry based management on import price, leveraging the resource from audit division for strengthen the post screening in transfer pricing declaration, it became more and more important for the MNCs to understand the view from China Customs on transfer pricing and prepare for the challenge.
Asta Nie, PwC WMS partner will share the new progress of Customs' theoretical exploration and valuation practice with respect to transfer pricing and the practical tips for the company to prepare and deal with challenge.
TP strategy and implementation from a new (Customs) perspective
TP in the past has been in the exclusive purview of tax authorities as taxpayers only needed to fight single-way to manifest their TPs have generated more than enough profit in China. More audits and interventions by Customs especially on taxpayers' import transactions with related parties have ushered in a new era in which the taxpayers need to maintain a more delicate balance between their Corporate Income Tax risks and Customs risks. More, the Customs' aggressive stance applied in subjecting taxpayers' royalty to import taxes have only increased exponentially the complexity of taxpayers' defence.
How to re-strategise their TPs to ensure they are defendable from both TP and Customs perspectives will bring tremendous benefits to the sustainability of taxpayers' intra-group supply chain and mitigate the future Customs audit costs.
TP technique in Customs valuation defence
Despite having their own conceptual frameworks, TP and Customs do share some roots in deriving reasonable pricing policies for import transactions. Taxpayers however needs to be careful that the analysis they have constructed for their TP justification will not backfire on their customs defence given more and more often the Customs have borrowed taxpayers' TP analysis and used it against the taxpayers.
Moreover, the more granular perspectives (sometimes to brands or SKUs) and different profit margin indicator (i.e., Gross Margins) may also render taxpayers' current TP analysis to be paralysed in defending against Customs' challenges, and will require TP/economic analysis to be considered.
Agenda
8
30AM
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9
00AM
9
00AM
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9
30AM
9
30AM
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10
00AM
10
00AM
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10
15AM
10
15AM
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10
45AM
10
45AM
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11
15AM
11
15AM
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11
45AM
Panel discussion with clients with Paul and Asta
Paul Tang•Asta NieInterim Duty Rate (IDR) Application in China with Alex Qian
Speakers
Alex Qian
Worldtrade Management Service Partner at PwCAlex joined Worldtrade Management Services at PwC Shanghai office in 2014. He has over 16 years experience in Customs and international trade in China.
During his 10 years in the Shanghai Customs, he served in various positions such as Shanghai Customs Commodity Classification Center, Declaration and Inspection sections of Waigaoqiao Customs of Shanghai Customs.
With PwC, his industry experience includes medical device, pharma, food & beverage, chemical, garment, luxury, electronics, metal, automotive, etc. He has been helping over 200 MNCs in the past 6 years in the field of trade compliance and duty cost planning. He focuses on the resolution of the disputes between Customs and importers/exporters in terms of the tariff classification, Customs valuation and other declaration requirements. He also has hands-on experience in the fields of the processing trade with handbook, Customs audit, ASB investigation, bonded warehouse management, compliance health check, FTA & CoO & RDC planning, AEO verification, etc.
Alex is a seasoned negotiator with extensive background in coordinating relations between Customs and companies to find "win-win" outcomes. He has good connection with General Administration of Customs in Beijing and the main local customs. He has completed successful proposals for interim duty rate (IDR) to the General Administration of Customs and the Tariff Committee Office of the Ministry of Finance. He also helps the local manufacturer obtain the higher export VAT refund rate for their key product.
New Exploration and Prospect of Customs Valuation with regard to Transfer Pricing with Asta Nie
Speakers
Asta Nie
WMS Partner at PwCAsta is a senior Customs and Trade Compliance professional with over 18 years extensive working experience both in consulting firms and different industries (e.g. Chemical, pharmaceutical, medical device, healthcare, retail, crop science, IT, high-tech, etc.) by focusing on Customs, international trade compliance, Customs and supply chain strategies and planning.
Transfer Pricing strategy and implementation from a new (Customs) perspective with Paul Tang
Speakers
Paul Tang
Transfer Pricing Partner at PwCPaul Tang is a Partner in the Pw C 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 Reporting) published by China's SAT.
Paul was recognised by Euromoney's Legal Media Group as the Rising Stars 2015 (Transfer Pricing Attorney, China).
Transfer Pricing technique in Customs valuation defence with Kenny Sun
Speakers
Kenny Sun
Transfer Pricing Associate Director of PWCKenny Sun is a Transfer Pricing Associate Director at PwC China in Shanghai. He has over 14 years of experiences in advising Chinese and foreign multinational corporations on their transfer pricing ("TP") matters.
The industries with which Kenny has been particularly experienced include technology & entertainment, life science and industrial products.
Kenny was deeply involved in assisting a leading Korean consumer electronics producer in its pursuit of one of China's first bilateral Advance Pricing Arrangements ("APAs") with South Korea. In 2011-12, he played an instrumental role in advising a German auto part producer in achieving a desirable outcome from a national TP audit against more than 10 of its subsidiaries in China.
Kenny used to be the advisor to a UK-based pharmaceutical company for more than six years, and has orchestrated the revamping of its China tax and TP model to accommodate the changing TP environment in China. He has also helped several US- and Europe-based pharmaceutical conglomerates in their TP planning and dispute resolution endeavours.
In technology sector, Kenny's clients include a world's leading online advertiser, and a leading US-based social media platform company. He has been the TP advisor to one of world's largest FMCG corporations for more than five years, and has served several world's largest catering brands.
Over the last two years, Kenny also started to devote himself to helping MNCs better manage their Customs risks in China as he has worked with a number of clients to revisit their TP set-up and assisted with their dispute resolutions.
Panel discussion with clients with Paul and Asta
Speakers
Paul Tang
Transfer Pricing Partner at PwCPaul Tang is a Partner in the Pw C 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 Reporting) published by China's SAT.
Paul was recognised by Euromoney's Legal Media Group as the Rising Stars 2015 (Transfer Pricing Attorney, China).
Asta Nie
WMS Partner at PwCAsta is a senior Customs and Trade Compliance professional with over 18 years extensive working experience both in consulting firms and different industries (e.g. Chemical, pharmaceutical, medical device, healthcare, retail, crop science, IT, high-tech, etc.) by focusing on Customs, international trade compliance, Customs and supply chain strategies and planning.
Speakers
Asta Nie
WMS Partner at PwC
Asta is a senior Customs and Trade Compliance professional with over 18 years extensive working experience both in consulting firms and different industries (e.g. Chemical, pharmaceutical, medical device, healthcare, retail, crop science, IT, high-tech, etc.) by focusing on Customs, international trade compliance, Customs and supply chain strategies and planning.
Alex Qian
Worldtrade Management Service Partner at PwC
Alex joined Worldtrade Management Services at PwC Shanghai office in 2014. He has over 16 years experience in Customs and international trade in China.
During his 10 years in the Shanghai Customs, he served in various positions such as Shanghai Customs Commodity Classification Center, Declaration and Inspection sections of Waigaoqiao Customs of Shanghai Customs.
With PwC, his industry experience includes medical device, pharma, food & beverage, chemical, garment, luxury, electronics, metal, automotive, etc. He has been helping over 200 MNCs in the past 6 years in the field of trade compliance and duty cost planning. He focuses on the resolution of the disputes between Customs and importers/exporters in terms of the tariff classification, Customs valuation and other declaration requirements. He also has hands-on experience in the fields of the processing trade with handbook, Customs audit, ASB investigation, bonded warehouse management, compliance health check, FTA & CoO & RDC planning, AEO verification, etc.
Alex is a seasoned negotiator with extensive background in coordinating relations between Customs and companies to find "win-win" outcomes. He has good connection with General Administration of Customs in Beijing and the main local customs. He has completed successful proposals for interim duty rate (IDR) to the General Administration of Customs and the Tariff Committee Office of the Ministry of Finance. He also helps the local manufacturer obtain the higher export VAT refund rate for their key product.
Kenny Sun
Transfer Pricing Associate Director of PWC
Kenny Sun is a Transfer Pricing Associate Director at PwC China in Shanghai. He has over 14 years of experiences in advising Chinese and foreign multinational corporations on their transfer pricing ("TP") matters.
The industries with which Kenny has been particularly experienced include technology & entertainment, life science and industrial products.
Kenny was deeply involved in assisting a leading Korean consumer electronics producer in its pursuit of one of China's first bilateral Advance Pricing Arrangements ("APAs") with South Korea. In 2011-12, he played an instrumental role in advising a German auto part producer in achieving a desirable outcome from a national TP audit against more than 10 of its subsidiaries in China.
Kenny used to be the advisor to a UK-based pharmaceutical company for more than six years, and has orchestrated the revamping of its China tax and TP model to accommodate the changing TP environment in China. He has also helped several US- and Europe-based pharmaceutical conglomerates in their TP planning and dispute resolution endeavours.
In technology sector, Kenny's clients include a world's leading online advertiser, and a leading US-based social media platform company. He has been the TP advisor to one of world's largest FMCG corporations for more than five years, and has served several world's largest catering brands.
Over the last two years, Kenny also started to devote himself to helping MNCs better manage their Customs risks in China as he has worked with a number of clients to revisit their TP set-up and assisted with their dispute resolutions.
Paul Tang
Transfer Pricing Partner at PwC
Paul Tang is a Partner in the Pw C 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 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
Corporate Gold Partners
A special thanks to our Corporate Gold Partners for supporting the Swedish business community in China.
