Partners Zheng Yu (Gide Loyrette) and Tracy Zhang (KPMG) will brief attendees on the implications of State Administration of Foreign Exchange (SAFE) Circular 21 (in effect in May 2013) and Circular 59 (in effect in Dec. 2012) that further simplify foreign exchange procedures and regulations for Foreign Direct Investment in China. 

Zheng Yu, Partner at Gide Loyrette Nouel will cover:

• The relationship between Circular 21 and Circular 59, and the important changes brought by Circular 21
• He will also present a comparison analyzing foreign direct investment by using (i) offshore RMB and (ii) foreign currency after the reform brought by Circular 21 and Circular 59.

Tracy Zhang, Tax Partner at KPMG will present on foreign exchange and tax issues / cases pertaining to funds repatriation, including:

• Cross-border remittance of reimbursement – clarifications on when secondment creates Chinese taxable presence for foreign enterprises
• Assessment of beneficial ownership of dividends – Announcement 30 and recent update  
• Proposed changes on admin of tax clearance certificate

Speakers

Zheng Yu Partner - Gide Loyrette Nouel Beijing
Zheng Yu is a partner and member of the Chinese Bar. With more than a decade of experience, his practice mainly focuses on foreign direct investments, M&A, joint ventures, corporate restructuring, as well as Chinese outbound investment. Zheng Yu also has significant experience in dispute settlement and arbitration, and real estate. Zheng Yu is currently recommended in real estate and dispute resolution in The Asia Pacific Legal 500.

Tracy Zhang, Tax Partner, KPMG Beijing, China
Tracy joined KPMG Beijing office in 1996. Tracy is a PRC regulatory and tax expert on China investment related issues. Since 2004, she has been functioning as one of the leaders of the Financial Service tax team in KPMG Beijing, looking after domestic and foreign financial service, private equity and real estate clients. Tracy has comprehensive experience in assisting Chinese companies restructuring their operations in a tax efficient way for onshore and offshore IPO purpose.

Moderator

Lea Gebhardt, Chair of Finance and Taxation Working Group, European Chamber

Agenda

08:00 – 08:30 Registration & Breakfast
08:30 – 09:00 Presentation by Zheng Yu, Partner at Gide Loyrette Nouel
09:00 – 09:30 Presentation by Tracy Zhang, Tax Partner at KPMG
09:30 – 10:00 Q & A Session, moderated by Lea Gebhardt, Chair of Finance and Taxation Working Group
10:00 End of the Event

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