Tax update for multinational companies

The operating landscape for multinational organisations is constantly evolving. Companies must keep up with the accelerating pace of tax, legislative and regulatory developments. Join us for a breakfast seminar with PwC tax experts to discuss the latest and upcoming regulatorychanges affecting multinational companies operating in China.

China Transfer Pricing Update

Base erosion and profit shifting (BEPS) refers to tax avoidance strategies that exploit gaps and mismatches in tax rules to artificially shift profits to low or no-tax locations. The BEPS project was initiated by the OECD/G20 and has generated 15 Action Plans as well as a series of subsequent updates and amendments. Currently, under the OECD/G20 Inclusive Framework on BEPS, over 125 countries and jurisdictions are collaborating to implement the BEPS measures and tackle BEPS. China, as part of the Inclusive Framework, has implemented several localised BEPS measures.

Paul Tang, Transfer Pricing Partner at PwC, will cover recent BEPS developments and localisation in China (such as digital economy, latest updates on APA/MAP), as well as the potential impact on multinational companies operating in China.

Recent China VAT Reform and Tax Automation Project Experiences

In recent years, China State Taxation Administration has launched a series of tax reform policies in order to simplify the tax regime, expand the tax base, reduce tax refunds and enhance daily tax administration. These measures are aimed to reduce the taxpayer's burden in order to promote the economy. In the meantime, tax authorities will be able to leverage various technologies by rolling out the Golden Tax III system to enhance tax administration and risk management.

How should companies respond to the variable tax reforms? How should they deal with tax checks/audits under a stricter administrative environment? Yolanda Lv, Tax Partner at PwC, will share with you recent VAT reform policies and tax automation project experiences.