The European Chamber is delighted to invite you to our coming Finance and Taxation seminar on 27 June 2013, providing an update on the current accounting and tax issues in Shanghai.

New Chinese Accounting Standards Update
The new Chinese Accounting Standards was issued by MOF in 2006. It has posted enormous challenges to those foreign invested enterprises in China which are prepared their financial statements under old Chinese Accounting Standards. Furthermore, MOF has issued four CAS Exposure Drafts (ED) in 2012 that addresses Consolidated Financial Statements, Joint Arrangements, Disclosure of Interests in Other Entities and Fair Value Measurement, as a result of the new IFRSs that are effective in 2013. The effective date of these EDs is expected to be no later than next year. Ms. May Kassis-Morin, Partner, and Ms. Li-Peng Lim, Director of E&Y, will present the latest developments of the CAS conversion landscape and adoption timeline, the benefits of adopting new CAS and the major impact from the adoption of new CAS.

Hot Tax Topics in 2013
In the first half of 2013, SAT and other authorities have been as busy as ever in drafting and publishing new tax regulations. On the list are topics like profit repatriation & tax treaties, expat secondments & PEs, VAT reform & tax exemptions, restructuring & tax valuation. Alan Yam, tax partner and European Business Group tax leader of PwC China, will share his latest intelligence and insights about the new developments, and discuss practical experiences and insider knowledge on local implementation and the tax officers' current agenda.

Our invited speakers will be happy to answer any specific questions you may have relating to your business in China.

Agenda
09:00 - 09:05 - Welcome words, by Chair/Vice Chair, Finance & Taxation working Group, European Chamber
09:05 - 09:35 - Accounting Session by May Kassis-Morin, Partner, and Li-Peng Lim, Director, E&Y
09:35 - 10:05 - Tax Session by Alan Yam, Tax Partner and China European Business Group Tax Leader, PwC
10:05 - 10:30 - Q&A

Speakers
May Kassis-Morin has over 20 years of experience in audit, finance advisory and transaction services. May graduated from HEC Paris and is a French Certified Public Accountant. She has led the audit of many large public and private companies and GAAP conversion projects. She has solid experience in auditing multinational enterprises, especially in Europe market and specializes in the sectors of Power & Utilities, Oil & Gas, Construction and Telecom and Media industry. She has developed her international work experiences as she served E&Y multinational listed clients in France, the UK and in Shanghai.

Li-Peng Lim has more than 13 years experience in accounting advisory and has solid international experience, having worked in Australia, Hong Kong, USA and Shanghai. Li-Peng is a member of the Chartered Accountants of Australia. Li-Peng works closely with the clients providing advice on application of IFRS and Chinese GAAPs. She has deep program management experience having led many of large US MNCs through their GAAP conversion program and often double headed as the accounting and financial reporting work-stream lead during her time in the US. She has also been a regular speaker for various financial reporting training events, externally for clients and internally for E&Y staff members.

Alan Yam, partner of Tax and Business Advisory Service of PwC in Shanghai. He has 23 years of China tax experience, and is the leader for European Desk for PwC China on tax and business advisory practice. During his professional years, Alan has developed extensive experience in providing tax and business consultation to many major European and US multinational clients investing in China. Such services include market entry strategy, corporate restructuring on holding and trading structure, mergers and acquisitions support, location study, customs and international trade advisory as well as tax and operational compliance review.

Registration
If you would like to attend this event, please register with Ms. Zhao Yang at yangzhao@europeanchamber.com.cn or 63852023-117.

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