Essential capabilities for BRI international talents
Deloitte with B&R
In last issue's 'Deloitte with B&R', we elaborated how to make effective tax plan in B&R projects, aiming at various tax risks during different periods. As the process of Chinese enterprises' internationalization is accelerating, the strategic importance of international talents becomes increasingly significant. The success of the enterprise internationalization highly relies on talents. President Xi has clearly pointed out that talents are the strategic resources to win the initiatives in international competition. Which are the indispensable capabilities and characteristics of outstanding international talents?
In this issue, we are pleased to have Mr. Alan Wang, Deloitte China Human Capital Advisory Service Partner, to analyze the essential capabilities that international talents should be equipped with, under the background of Belt & Road Initiatives.
As one of the key focuses in the report of 19th CPC National Congress, “Belt and Road” Initiative highlights both "bringing in" and "going out" strategies. For enterprises going global in response to the BRI, enterprises should develop a proper tax management strategy, so as to reduce the tax risks and increase tax efficiencies in the process of globalization.
Specifically, before an investment, enterprises are supposed to accurately estimate the tax costs of the entire project according to the local laws and regulations, and further evaluate the economic feasibility of the project. As for project implementation and operation, enterprises should establish a global tax risk management system leveraging modern means of information technology, to strengthen tax risk control and compliance of overseas projects. In the later stage of the investment, enterprises can do a health check of tax positions on their own, to avoid the potential risks from being audited or even fined by the tax authorities.
Coming soon: The success of the enterprise internationalization highly relies on talents. President Xi has clearly pointed out that talents are the strategic resources to win the initiatives in international competition. Chinese enterprises are in the important stage where it is unprecedentedly essential to attach the great importance to the international talent development. Which are the indispensable abilities and characteristics of the international talents? How to select and recruit the international talents objectively? These are the questions that we will be addressing in the next issue.