European Union Chamber of Commerce

Finance & Taxation, Investment Working Group

“Digitalize Your Business in China: Roll out of e-invoice system in China”

Date: Thursday, 20th October, 2022

Time: 14:30-16:00 (GMT+8, China time)

Venue: Zoom

Dear members,

The European Chamber is pleased to invite you to the Finance & Taxation Working Group meeting “Digitalize Your Business in China: Roll out of e-invoice system in China”, which is taking place on 14:30-16:00 Thursday, 20th October2022, online.

Fully digitalized e-fapiao is a completely new type of electronic invoice, which is different from the previously introduced normal value-added tax (VAT) e-fapiao and the traditional paper fapiao, but has the same legal effect. The pilot program of fully digitalized e-fapiao kicked off on December 1, 2021, whereby selected taxpayers in Shanghai, Guangdong (Guangzhou, Foshan, Guangdong-Macao Intensive Cooperation Zone), and Inner Mongolia (Hohhot) started to issue and accept fully digitalized e-fapiao. In 2022, the pilot program of fully digitalized e-fapiao was further expanded, with a broader scope of taxpayers being able to issue and accept fully digitalized e-fapiao.

Under the fully digitalized e-fapiao programs, a national unified e-invoicing service platform is targeted to be built to provide taxpayers 24-hour online services to issue, deliver, and verify fully digitalized e-fapiao free of charge. Following the introduction of the normal VAT e-fapiao and the construction of the Golden Tax System Phase IV, the fully digitalized e-fapiao marks the latest effort by the Chinese government to promote the digital upgradation and intelligent transformation of tax collection and administration and reduce the cost of tax management.

Agenda:

• Introduction and Opening remarks by Alexander Prautzsch, Vice Chair of Finance & Taxation Working Group
  
• Presentation by Mr. Jason Yu, Tax Director, KPMG China and Ms. Feiya Zhao, Tax Director, KPMG China

1)     introduction of the e-invoice in China;

2)     impact and opportunity to business brought by e-invoice;

3)     suggested preparations and action plans

• Q&A
• Closing Remarks by Alexander Prautzsch, Vice Chair of Finance & Taxation Working Group

Objectives

Acquaint the audience with key features of fully digitalized e-fapiao, walk through the pilot fully digitalized e-fapiao programs in 2022, and explain the potential impacts of fully digitalized e-fapiao to various businesses

Who should attend

All stakeholders, CFO, finance and tax directors and managers;

Benefits of Attending

We expect by the end of the sharing session, the audiences will:

-       have an in-depth understanding of the e-invoice deployment in China

-       understand the impact to the business and suggested actions to prepare for the e-invoice innovation roll out in China.

To confirm your registration, please reply to this email or register here no later than 18th October noon. Please note that you will receive a confirmation email containing the link to join the meeting via Zoom after registration is completed.

Speakers

Mr. Alexander Prautzsch

Tax Director, PwC China

Mr. Alexander Prautzsch

Tax Director, PwC China

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Alexander Prautzsch is a Tax Director at PwC China in the Shanghai office and is a member of the European Business Group.

Alexander is committed to advising European, particularly German-speaking clients, on their investments in China. He is focused on Chinese, German and international tax matters for corporate clients as well as their employees. Typical projects of Alexander include investment advisory, restructurings, profit repatriation planning, employee assignments, cost cross-charges and supply chain planning projects.

Alexander is a German certified tax advisor (Steuerberater) and has lived and worked in Shanghai since October 2005. Prior to working in China, Alexander worked for three years in the international tax department in Frankfurt. Alexander is a German native speaker and fluent in English and Mandarin.

Mr. Jason Yu

Tax Director, KPMG China

Mr. Jason Yu

Tax Director, KPMG China

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Jason is a Tax Director with KPMG Shanghai. He has 18 years of specialist tax experience in China providing tax advice to multinational companies and domestic companies. He serves client across various industries including life science, funds, industrial manufacturing, consumer, information technology and entertainment, etc.

With the rapid change of Asian economic and tax environment, many companies are facing problems or difficulties in its operation. Jason Yu, who witnessed all the changes, has been viewed as a valuable advisor to many companies with his rich experience and deep understanding of the macro mega trend and the micro-regulatory changes. He possesses ample experiences in providing diversified tax advisory services for MNCs in China.

Ms. Feiya Zhao

Tax Director, KPMG China

Ms. Feiya Zhao

Tax Director, KPMG China

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Feiya is a Tax Director with KPMG Shanghai with more than 11 years of experience in digital transformation for enterprises. By leveraging front-end technologies, Feiya provides innovative services in tax and finance digitalization for domestic and international clients in various industries, especially indirect tax management automation and supply chain management optimization.

Under the influence of COVID-19 and rapid development of digital economy, technology is not only an innovative initiative of enterprises, but it has also become a necessary basis for the day-to-day operation and management of enterprises. Feiya has rich experiences of helping enterprises to conduct digital upgrade of business processes to be highly compliant, cost effective and also to support business decision makings.

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