The Benelux Chamber of Commerce, in cooperation with the German Chamber of Commerce, the Australian Chamber of Commerce. the British Chamber of Commerce, the Swedish Business Counsil and the Swiss Chamber of Commerce, is pleased to invite you to an inter-chamber breakfast on February 9:
New Tax Administration Era in China
The robust Tax Risk Control put in place will make good business sense. It will limit the risk of unwelcome 'surprises' to management, and enterprises financial statements will have greater certainty in terms of material tax risks and liabilities. The SAT issued Guidance on Tax Risk Managerment of Large enterprises in May 2009, Guoshuifa No. 90. Following the circular, the SAT released Measures of Taxation Service and Administration for Larger Enterprise, Guoshuifa No. 71 in 2011, which heralds a new era in the relationship and management of taxes in China, built on the concept of mutual trust between business taxpayers and tax officials, under the framework of Tax Compiance Agreements (TCAs). Today KPMG will discuss with you how this new treaty helps large enterprises in dealing with tax authorities.
Speakers:
Tracy Zhang is a PRC regulatory and tax expert on China investment related issues. Tracy joined KPMG Beijing office in 1996. She also worked with International Corporate Tax practice in KPMG New York and Financial Service practice in KPMG London respectively. She has also been involved in developing structures for foreign investor’s investments into China, tax due diligences reviews in connection with M&A transactions and advising on cross border transactions.
Lachlan Wolfers is leader of KPMG’s Centre of Excellence for Indirect Taxes in China (based in Shanghai) since 2011, and prior to that, he was the leader of KPMG’s Indirect Taxes and Tax Controversy practices in Australia. Lachlan has managed a substantial tax litigation practice, including conducting the first substantive GST case in Australia. In his current role, Lachlan is also very involved in advising clients in China in relation to Tax Compliance Agreements and similar administrative measures.