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9.00 a.m.-17.00 p.m.

Comprehensive Guide to Accounting and Taxation in China

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.


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.