European Union Chamber of Commerce in China
Insurance Working Group (Beijing)
Working Group Meeting
Date: Friday, April 25th 2012 from 4:00pm-6:00pm.
Venue: European Chamber Beijing & Shanghai Offices
European Chamber Beijing Office - C411A, Beijing Lufthansa Center, 50 Liangmaqiao Road, Chaoyang District
Dear Working Group Member,
We are delighted to invite you to the next Insurance Working Groups meeting, to be held on Wednesday 25th April, starting at 4:00pm at the European Chamber’s office.
At this meeting we will have the honour and pleasure to welcome Ms. Tracy H Zhang, Partner, Tax, KPMG Advisory (China) Limited. She will debrief the Working Group the report that KPMG provided to a joint team comprising the Ministry of Finance (MOF), State Administration of Taxation (SAT) and the China Insurance Regulatory Commission (CIRC) on various problems with the current Business Tax (BT) system (as it applies to insurance) as well providing recommendations for future reforms, including as part of the VAT reforms which are currently taking place in Shanghai.
While the insurance sector is not currently subject to the VAT reforms, the reforms are expected to be expanded in the near future – both geographically across mainland China, and in terms of the scope of industries affected.
Tentative Agenda:
1. Presentation by Ms. Tracy H Zhang, Partner, Tax, KPMG Advisory (China) Limited on VAT reform development update
2. Position Paper status update and review
3. Roundtable discussion on recent developments
4. AOB
If you wish to attend this meeting, please register with Mr. Xavier-Lluis Sans Powell at xsanspowell@europeanchamber.com.cn before COB Tuesday 24th April 2012.
________________________________________
For more information on the Working Group or the Chamber in General, please don’t hesitate to contact Xavier Sans Powell in Beijing, xsanspowell@euccc.com.cn or Tony Robinson in Shanghai, trobinson@euccc.com.cn.