The European Chamber is delighted to invite you to attend this afternoon seminar on 20th May at Hilton Chaoyang Hotel in Beijing. During this event, our two experts will discuss legal, accounting and tax aspects of getting paid in China.
The speakers will answer questions such as: How to use the Chinese court system if you don’t get paid? How to freeze bank accounts in China? When to issue a fapiao? How to prevent delays when making cross-border payments?
Rogier van Bijnen, Head of R&P China Lawyers’ Beijing office, will focus on what legal options are available in China if your counterparty doesn’t pay:
· Litigation – busting the myth: going to court in China is not pointless (provided you’re well prepared)
· Freezing bank accounts – how to apply pressure on the other side and prevent assets from disappearing
· Prevention – how properly structuring your contract may prevent non-payment in the first place
Thomas Granjard, Co-Directing Manager at Mazars in China, will mainly speak about the accounting and tax implications of getting paid in China:
· Tax compliant invoices (fapiao) – knowing when to issue them and when to hand them to customers
· Cross-border payments – how to prevent the most common mistakes that cause delay
· Revenue / cost recognition principles – reminder that PRC statutory accounting should be prepared on accrual basis, i.e. revenue recognition is not linked to customer payments
· Accounting provision – ensuring proper communication channel between operational & accounting teams, to provision for any bad debt identified by the operational team
Agenda:
15:30 - 16:00 Registration
16:00 - 16:05 Opening Remarks
16:05 - 16:45 Legal options if you are not getting paid by Rogier van Bijnen, Head of R&P China Lawyers’ Beijing office
16:45 - 17:25 Accounting and tax implications of getting paid in China by Thomas Granjard, Co-Directing Manager at Mazars in China
17:25 - 18:00 Panel discussion and Q&A, moderated by Anthea Wang, Chair of the Finance and Taxation Working Group, European Chamber
Terms & Conditions:
Events have limited seating so to ensure your attendance we encourage advance online registration and payment for ALL events. We cannot guarantee entry to anyone not registered in advance.
All our events are held in English and are off-the-record unless otherwise stated.
Cancellation Policy:
If you cannot attend an event for which you have registered, please cancel your registration no later than one business day prior to the event. If you fail to notify us of your cancellation in a timely fashion, you will be charged for event costs.
To cancel you can: 1) email jli@europeanchamber.com.cn, or 2) cancel online if you registered for the event through the website.