National VAT Workshops

VAT Reform – 5 weeks to implementation

The Value-Added Tax (VAT) Pilot Reform has been known as one of the most challenging and complicated tasks of the recent history of China Tax evolution. On 5 March 2016, Premier Li Ke-qiang finally announced in the 12th National People's Congress the timeline for completion of the VAT Pilot Reform. On the 18 March 2016, the draft regulations for the VAT Reform were approved. After more than 4 years of implementation, it comes to the concluding stage of extending the Pilot Reform to the rest of other industries. This is also believed to be the most difficult and controversial part of the process.

On 24 March 2016, the much anticipated rules for the Reform were announced, a significant piece of regulation which have been years in the making. Circular Caishui (2016) No. 36 (Circular 36) form a complete consolidation legislation encapsulating the VAT Bulletins and Circulars issued in the past 4 years. The very detailed rules, written for each industry, are specified and need to be carefully analyzed and understood for the implementation including how to:

• leverage off the transitional rules grandfathering the BT exemptions into VAT;
• benefit from the input VAT deduction for the Real Estate sector;
• select between the simplified and standard method for the Consumer sector; and
• prioritize on operational matters in the remaining weeks to a successful implementation.

Strategically prioritizing actions will be a critical part of a successful implementation. Deloitte China is holding a series of VAT workshops nationally for the finance and tax personnel of companies to understand the technicality of the rules and how to implement them in practice in this remarkable phase of the Reform. We will focus on not only communication strategies with the local tax bureau but also strategic actions needed before 1 May and, perhaps more importantly, thereafter.

Looking forward and beyond 1 May 2016, as the Golden Tax Machine is upgraded, what actions can taxpayer take now to ensure that the data is managed correctly? Our expert team on the Pilot Reform and dedicated Indirect Tax professionals will talk through the technology tools we have developed on Indirect Tax data analytics, data mining, and automation.

Industry Specific Workshops

Language

Shanghai, Beijing, Guangzhou & Shenzhen: Mandarin
Hong Kong: English

Duration of the seminar

3 hours

Fee

Free of charge

Date, Time and Venue

Our workshops will be held in a number of Deloitte offices in Mainland China and Hong Kong SAR, with details below:

Series 1

Implementing Circular 36

Series 2

Real Estate – specific VAT industry issues for the Construction and Development sector

Series 3

Consumer services – specific VAT industry issues for the Consumer and Lifestyle sector (catering, hotels, education, tour operators, Life Science)

Series 4

Financial services – specific VAT industry issues for Banking, Insurance and Securities

Registration & Enquiry

Please download and complete the registration form. Registration closes one day before the conference date in each respective city.

Due to venue capacity, only 2 representatives from each company will be accepted on a first-come-first-served basis. Our firm reserves the right to make the final decision. Our confirmation email will be sent to successful registrants before the event.

For any enquiries, please feel free to contact us:

Shanghai
Livian Liu
Direct: +86 21 6141 1149
Fax: +86 21 6335 0003
Email: livliu@deloitte.com.cn

Beijing
Tess Xu
Direct: +86 10 8520 7631
Fax: +86 10 8518 1326
Email: tessxu@deloitte.com.cn

Shenzhen
Sywen Zhang
Direct: +86 755 3353 8196
Fax: +86 755 8246 3222
Email: sywzhang@deloitte.com.cn

Guangzhou
Stephanie Lan
Direct: +86 20 2831 1331
Fax: +86 20 3888 0121
Email: slan@deloitte.com.cn

Hong Kong
Evon Chik
Direct: +852 2852 1269
Fax: +852 2541 1911
Email: echik@deloitte.com.hk