Russell Brown – Founder & Managing Partner of LehmanBrown International Accountants, will provide the comprehensive guide to accounting and taxation in China for the two-day agenda.

Outline

Agenda for Day 1

1. Accounting Standards in China

• Overview of China Accounting Standards
• Detailed comparison between CAS, IFRS & US GAAP
• Convergence of China accounting standards with IFRS
• Special financial reporting issues

2. Managing Risks of Fraud and Corruption in China

a. Common fraud risks in China

• Ownership & Control- Internal Structure Weaknesses
• Financial and Accounting Practices
• Common Sourcing System Breakdowns
• Corruption in China

b. What can be done to manage these risks?

3. China Enterprise Income Tax Law

• Tax resident and permanent establishment
• Dividend withholding tax and holding company
• Thin capitalisation rule: tax versus business tax incentives
• Transitional period and grandfathering relief

4. Taxation on Corporate Restructuring

• Common forms of restructuring
• Business requirements and constraints
• Latest changes: tax free structure not guaranteed
• Common pitfalls

5. Transfer Pricing in China

• An update on China transfer pricing regulations
• Emerging TP Issues in China
• Dos and Don’ts when managing transfer pricing audits in Indonesia
• Advance Pricing Arrangement (APA) in China – regulations and practice
• Transfer pricing as a regional planning tool

Agenda for Day 2

1. Employees’ Taxation in China

• Scope of individual taxation in China
• Income tax laws applicable to individuals
• Exemptions and deductions allowable and their limits
• Expatriates Vs Local Employees
• Common planning techniques and the use of tax treaty

2. China Withholding Tax

• Overview of withholding tax system
• Domestic transactions subjected to withholding tax
• Cross border transactions subjected to withholding tax
• Understanding the pitfalls of withholding tax and how to avoid them
• Application of tax treaty provisions

3. Understanding & Managing VAT in China

• Updates on China VAT reform
• VAT-able and non VAT-able objects
• VAT special invoices
• VAT related concessions
• VAT refund regime

4. Profit Repatriation & Foreign Exchange Issues

• Overview on remittance of trade and non-trade items
• Common techniques of profit repatriation
• Potential tax consequences and planning opportunities
• Tax clearance requirements

5. Factors to Consider When Selecting the Best Structure for Your Investment

• Business entity options for foreign investors
• Routing of investments through an offshore company
• Available investment incentives
• Free trade zones
• Anti-tax Avoidance Provisions and Double Tax Treaties

For more information, please visit http://www.goconventions.com/ or email events@lehmanbrown.com.