The long-expected Unified Corporate Income Tax Law for the PRC was passed on 16th March with most provisions taking effect on 1st January 2008. Anticipating the new law the Finance & Taxation Working Group of the European Chamber has dedicated a series of seminars to this law and its impact on foreign companies taxation in China. During the upcoming months, expert speakers will explain and discuss with our members various aspects of the new taxation regime.
For the second seminar of this series, we are delighted to welcome Simon Tan, a Vice-Chair of our Finance & Taxation Working Group and an International Tax Partner with Deloitte Shanghai office. Simon will present a number of planning points and action-steps that FIEs can consider taking between now and 1st January 2008 in order to best position themselves with respect to the new Unified Tax Law. (To view Mr. Tan's CV, please click here).
Agenda
8.00 - 8.30 Registration
8.30 - 9.15 Presentation, Simon Tan (Deloitte Shanghai)
9.15 - 9.45 Q&A session
Registration
To register for this event, please email this form to Mr. Ian Wallis at iwallis@euccc.com.cn by Friday, April 20th, 5pm.
Confirmations and cancellations by phone are not accepted. Confirmations to email registrations are only sent when requested. Please note that we require 48 hours notice for cancellations.
No-shows who fail to cancel before this time will be invoiced for the event.
Registrations done after the deadline will be accepted only if space permits and are charged an additional 50 RMB walk-in fee.
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An English translation of the Unified Corporate Income Tax Law is available for members of the European Chamber on our web site courtesy of Deloitte. You can access it by click here.
Event review
Corporate Income Tax Series- Planning & Action- Steps from Now to 31st December 2007.
The European Chamber continued with the second instalment of the Corporate Income Tax Series with the Seminar “Planning & Action- Steps From Now to 31 December 2007” held on 24th April at the Hilton.
Mr. KK Ho, CFO Philips Electronics, Chairman of the Shanghai EUCCC Board, and Vice Chair of the Finance & Taxation Working Group moderated the event and introduced the speakers Simon Tan and Jeffery Kadet, both Partners in the International Tax Services Division at Deloitte Touche Tohmatsu.
In light of the new laws, Simon Tan described the factors to be considered for everyone’s Corporate Tax Planning up until 2008. He emphasized that each company is unique and that tax planning should be done on a case by case basis. He covered planning ideas and action points, particularly outbound payments, revenue and expense reporting up until 2008, and considering the new residency rules.
The new laws stipulate that there is increased focus on Transfer Pricing. Jeffery Kadet continued with Transfer Pricing and IP rationalization issues and discussed what preventative planning and action steps could be taken. He also outlined the advantages of Cost Sharing Agreements.
Finally tax incentives were discussed in relation to the Transition Rule, the New High Tech status, R&D Super-Deductions and Anti-Avoidance Rules.
To access the presentation please contact Simon Tan at sitan@deloitte.com.cn or Jeffery Kadet at jkadet@deloitte.com.cn