Dear Banking Working Group member,
We would like to invite you to the next meeting of the Banking Working Group at 3pm, Tuesday 9th December in our offices in Shanghai.
We are pleased to announce that Mr. Lewis Lu, KPMG will be in attendance to talk about the recently announced changes in Business Tax promulgated by the State Council. Of particular interest to WG members is the fact that BT will now be levied on foreign currency re-lending business on a gross basis rather than on a net basis. A number of our members have voiced concerns that this is going to lead to a greater BT burden.
Mr Lu will give a short presentation which will be followed by a Q&A session. Mr Lu is a Tax Partner at KPMG, specialising in financial services.
Proposed Agenda:
1. Revised Provisional Business Tax Regulations, Mr. Lewis Lu, KPMG
2. Discussion of potential lobbying meeting with Shanghai Municipal Government on BT issue
3. Update on status of Position Paper presentation to the Chinese financial authorities in Shanghai
To register your attendance to this meeting, please email Tony Robinson at trobinson@euccc.com.cn by 12pm, Monday 8th December.
We look forward to seeing you soon!