Dear Working Group Members,

The Finance & Taxation and Research & Development Working Groups are pleased to invite you to the meeting “R&D Tax Benefits: Challenges and Opportunities for Business”, which is taking place on Thursday, October 15^th, 15:30-17:00 (China time), both online (via Zoom) and on-site at the European Chamber’s Shanghai and Beijing offices.

Innovation and R&D constitute the prime drivers of long-term competitiveness and sustainable development for companies across geographies; the Chinese government in particular attaches great importance to the role they both play in boosting economic growth. As a result, the Chinese government has introduced a series of R&D incentive programs, which entail the following:

• Reduced CIT rate of 15% for qualified High- and New Technology-Enterprises (HNTE);
• Reduced CIT rate of 15% for Advanced Technology Service Enterprise (ATSE);
• Super-deduction rate of 175% for qualified R&D expenses companies incur; and
• Financial subsidies for qualified R&D centers;

At this meeting, Jason Yu, Tax Director, and Blaze Wang, Tax Manager of KPMG China (bios attached) will start from addressing some of the common hurdles companies face in filing R&D incentive applications and then proceed to unravel the steps that enable China-based entities to fully enjoy R&D deductions. Specifically, the discussion will cover:

1. Overview of R&D tax incentives in China;
2. Pain points in R&D incentive application filings;
3. Case sharing of successful HNTE, R&D super deduction, ATSE, R&D center applications—including disputes on IP arrangements, recording expenses, and interpretations of R&D activities.

Agenda

15:30-15:35 Opening Remarks and Introduction

15:35-16:30 Presentations by Jason Yu, Tax Director, and Blaze Wang, Tax Manager, KPMG China

16:30-17:00 Q&A and Closing Remarks 

We look forward to welcoming you to this meeting. To confirm your attendance, please contact Benedetta Borri at bborri@europeanchamber.com.cn or Xinyi Xie xyxie@europeanchamber.com.cn no later than 14^th October, noon. Kindly indicate whether you are attending online or on-site. If you wish to participate in person, please let Benedetta or Xinyi know whether you prefer joining in Beijing or in Shanghai.

Speakers

Mr. Jason Yu

Tax Director, KPMG China

Mr. Jason Yu

Tax Director, KPMG China

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Jason is a Tax Director with KPMG Shanghai. He has 18 years of specialist tax experience in China providing tax advice to multinational companies and domestic companies. He serves client across various industries including life science, funds, industrial manufacturing, consumer, information technology and entertainment, etc.

With the rapid change of Asian economic and tax environment, many companies are facing problems or difficulties in its operation. Jason Yu, who witnessed all the changes, has been viewed as a valuable advisor to many companies with his rich experience and deep understanding of the macro mega trend and the micro-regulatory changes. He possesses ample experiences in providing diversified tax advisory services for MNCs in China.

Mr. Blaze Wang

Senior Tax Manager

Mr. Blaze Wang

Senior Tax Manager

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Blaze joined KPMG Shanghai in 2015. He has plenty of experience in providing tax advisory services to multinational clients in various industries, including consumer market, pharmaceutical, traditional manufacturing, etc.
Blaze provided many multinational and domestic enterprises with business and tax advisory services including organization strategy, mergers and acquisitions, restructuring, tax planning for cross-border transaction, tax health check, tax audit defense and so on. Besides, he possesses ample experiences in foreign exchange advisory on cross-border cash inflow and outflow.

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