Developing your business in China: Master the Chinese tax system. Find out about:
- The enhancements of Chinese tax structure
- The new legal focus of the Chinese government
- Tax Development Trends
- How to promote positive corporate and individual tax health and TCS Hong Kong Solutions
Cher Réseau... Aujourd’hui, je partage avec vous, une petite contribution de M.Rafik BOUSSA, PDG Grant Thornton, laquelle j'espère serait à votre goût, en vous apportant quelques réponses sur les Prix de Transfert. Seulement, l'article est en Anglais... Bonne lecture (A partager sans modération).
Brought to you by Fideso Tax & Law Marbella. Spain is to launch a set of new rules to facilitate the creation of new companies and provide a comprehensive response to the self-employed and SMEs.
The government stressed that this is a key reform for economic reactivation and job creation.
http://fideso.com/tax-advice/
Cher Réseau... Aujourd’hui, je partage avec vous, une petite contribution de M.Rafik BOUSSA, PDG Grant Thornton, laquelle j'espère serait à votre goût, en vous apportant quelques réponses sur les Prix de Transfert. Seulement, l'article est en Anglais... Bonne lecture (A partager sans modération).
Brought to you by Fideso Tax & Law Marbella. Spain is to launch a set of new rules to facilitate the creation of new companies and provide a comprehensive response to the self-employed and SMEs.
The government stressed that this is a key reform for economic reactivation and job creation.
http://fideso.com/tax-advice/
Tax management within multinational enterprises (MNEs) has never been more challenging. 'Getting to grips with the BEPS Action Plan' is the latest Grant Thornton report exploring the OECD’s planned overhaul of the international tax system, what it means for businesses and how they can prepare.
Exeter - Essential 6-monthly Finance Directors' Update - June 2016PKF Francis Clark
Our six-monthly Finance Seminars provide an overview of the most important technical developments in financial reporting and taxation. The seminars address the key topical financial matters, the opportunities they present, how they affect your business and the pitfalls you can avoid.
Our seminars aim to provide the essential elements of technical CPD for a finance director.
International Tax Planning after BEPS - A Country SpotlightTIAG_Alliance
The OECD initiative against “Base Erosion and Profit Shifting” was
commissioned by the G-20 in 2013. Final deliverables were presented to the G-20 in November 2015.
“Base Erosion and Profit Shifting (BEPS) refers to tax planning strategies that exploit gaps and mismatches in tax rules to artificially shift profits to low or no-tax locations where there is little or no economic activity, resulting in little or no overall corporate tax being paid. BEPS is of major significance for developing countries due to their heavy reliance on corporate income tax, particularly from multinational enterprises (MNEs.)”
Creators and Presenters:
• Russell Brown, LehmanBrown, China
• Florence Bastin, Fiduciaire du Grand-Duché de
Luxembourg S.à r.l. (FLUX)
• Fabrice Rymarz, Racine, France
• Simone Hennessy, HSOC, Ireland
• Fuad Saba, FGMK, Chicago, USA (Moderator)
Session by Raffaele Russo, Head, BEPS Project, OECD Centre for Tax Policy and Administration, Meeting of the OECD Parliamentary Group on Tax, 19 Oct 2015
Bournemouth - Essential 6-monthly Finance Directors' Update - June 2016PKF Francis Clark
Our six-monthly Finance Seminars provide an overview of the most important technical developments in financial reporting and taxation. The seminars address the key topical financial matters, the opportunities they present, how they affect your business and the pitfalls you can avoid.
Our seminars aim to provide the essential elements of technical CPD for a finance director.
This brochure highlights some of the main tax implications of restructuring transactions and insolvency procedures across Europe to give the reader advance warning of the areas where specialist advice might be required.
The European tax landscape is in flux as governments evaluate and begin to enact the output from OECD’s base erosion and profit shifting (“BEPS”) initiatives. Tried and tested cross-border restructuring techniques may need to be reconsidered in what is a tricky environment where there are yet few certainties. Excellent read provided by Deloitte UK.
Escritorio Virtual QVD en OpenExpoDay 2014Qindel Group
Presentación de Qindel Group en el evento de software libre OpenExpoDay, junio de 2014, del Escritorio Virtual QVD. QVD es una solución de VDI altamente escalable, fácil de gestionar y de código abierto, basada en Linux
Tax management within multinational enterprises (MNEs) has never been more challenging. 'Getting to grips with the BEPS Action Plan' is the latest Grant Thornton report exploring the OECD’s planned overhaul of the international tax system, what it means for businesses and how they can prepare.
Exeter - Essential 6-monthly Finance Directors' Update - June 2016PKF Francis Clark
Our six-monthly Finance Seminars provide an overview of the most important technical developments in financial reporting and taxation. The seminars address the key topical financial matters, the opportunities they present, how they affect your business and the pitfalls you can avoid.
Our seminars aim to provide the essential elements of technical CPD for a finance director.
International Tax Planning after BEPS - A Country SpotlightTIAG_Alliance
The OECD initiative against “Base Erosion and Profit Shifting” was
commissioned by the G-20 in 2013. Final deliverables were presented to the G-20 in November 2015.
“Base Erosion and Profit Shifting (BEPS) refers to tax planning strategies that exploit gaps and mismatches in tax rules to artificially shift profits to low or no-tax locations where there is little or no economic activity, resulting in little or no overall corporate tax being paid. BEPS is of major significance for developing countries due to their heavy reliance on corporate income tax, particularly from multinational enterprises (MNEs.)”
Creators and Presenters:
• Russell Brown, LehmanBrown, China
• Florence Bastin, Fiduciaire du Grand-Duché de
Luxembourg S.à r.l. (FLUX)
• Fabrice Rymarz, Racine, France
• Simone Hennessy, HSOC, Ireland
• Fuad Saba, FGMK, Chicago, USA (Moderator)
Session by Raffaele Russo, Head, BEPS Project, OECD Centre for Tax Policy and Administration, Meeting of the OECD Parliamentary Group on Tax, 19 Oct 2015
Bournemouth - Essential 6-monthly Finance Directors' Update - June 2016PKF Francis Clark
Our six-monthly Finance Seminars provide an overview of the most important technical developments in financial reporting and taxation. The seminars address the key topical financial matters, the opportunities they present, how they affect your business and the pitfalls you can avoid.
Our seminars aim to provide the essential elements of technical CPD for a finance director.
This brochure highlights some of the main tax implications of restructuring transactions and insolvency procedures across Europe to give the reader advance warning of the areas where specialist advice might be required.
The European tax landscape is in flux as governments evaluate and begin to enact the output from OECD’s base erosion and profit shifting (“BEPS”) initiatives. Tried and tested cross-border restructuring techniques may need to be reconsidered in what is a tricky environment where there are yet few certainties. Excellent read provided by Deloitte UK.
Escritorio Virtual QVD en OpenExpoDay 2014Qindel Group
Presentación de Qindel Group en el evento de software libre OpenExpoDay, junio de 2014, del Escritorio Virtual QVD. QVD es una solución de VDI altamente escalable, fácil de gestionar y de código abierto, basada en Linux
IQPC’s 3rd Channel Management Summit taking place June 21-23rd, 2010 in San Jose, CA will increase the profitability of channel partner programs through showcasing best practices of channel in partner selection, management and collaboration strategies. Hear from: Panasonic, Motorola, Novell, Sophos, Citrix, Blue Cross Blue Shield, Polycom and many more!
Escribame cualquiera pregunta o consulta
Celular: 507+6728-5585 WASSAPP
Al recibir este correo se le agradece por favor envie respuesta de recibido.
Saludos cordiales.
Atentamente.
Edgar Alexis Martinez Valdes
Aire Acondicionado Split 1x1 DAIKIN TX25K con 2150 frigorías
Aire Acondicionado Split 1x1 DAIKIN Serie K Clase A++ de una potencia térmica de 2.5 KW y2150 frigorías con un ahorro de energía de hasta 30% gracias a la tecnología Inverter.
www.preciocalderas.org
Demo: Easily Deploy Applications with Standing CloudOpSource
Standing Cloud powered by OpSource is an easy way to deploy, operate, and scale applications on the OpSource Cloud, whether you're a business user, software developer, or system administrator.
Presentación elaborada por la Oficina Técnica de la Fundación Empresa Universidad de La Laguna, que ofrece información sobre el programa de bonos tecnológicos de la Agencia Canaria de Investigación, Innovación y Sociedad de la Información (ACIISI).
Que es liebrtagia? Como podemos generar dinero GRATIS en internet? Visita mi página web para más información:
www.obtentulibertagia.com
Dale like a mi página de Facebook para no perderte las últimas actualizaciones y presentaciones semanales del negocio por videoconferencia en línea.
https://www.facebook.com/pages/Libertagia-equipo-hispano/1443954285883502
Manual de instrucciones movilidad fde m udea- harvard medical schoolLeonardo Martínez
Manual escrito por el Dr. Edier Loaiza para aplicar al Exchange Clerkship Progam de la Universidad de Harvard-Estados Unidos. Dirigido a estudiantes de medicina de la Universida de Antioquia.
El Buen Gusto es un acogedor mesón donde disfrutar de la mejor comida casera en un ambiente familiar.
Llevamos 25 años dando el mejor servicio a vuestros paladares. Carnes a la brasa, arroces al estilo tamboril o con bogavante, buey a la piedra, mollejas, son algunas de nuestras especialidades. Tenemos tres salones con capacidad para unas doscientas cincuenta personas. Nuestra experiencia y nuestra profesionalidad nos avalan. Consulta nuestra carta y nuestros menús para grupos.
► Digital economy is raising complex issues for VAT systems
► OECD (November 2015): “International VAT/GST Guidelines” published with a heavy
focus on the place of supply of cross-border supplies of services and intangibles and the
application of the principles of destination and neutrality
► Trend toward digital supplies becoming taxable in the country of consumption
► Businesses increasingly needing to make VAT decisions in real time (at the point
of sale)
► Policymaking is developing – typical developments:
► Joint and several liability for online marketplaces
► Active searches for non-established ESS suppliers
► Removal of low value import thresholds
► Tax authorities are going digital
► Plus increasing inter-governmental cooperation
► Reputational risk rising
Addressing international corporate tax evasion an analysis of the oecd acti...Florian Marchal
This presentation aims to describe the issue around the international tax standards which are not adapted to the ongoing changes in the economy, creating loopholes and opportunities for base erosion and profit shifting. Such issue is currently being tackled and is taking place in a context where the OECD established the BEPS action plan.
This work is based around the following research question: Is the BEPS initiative an appropriate approach to harmonize the international tax system and consequently reduce base erosion and profit shifting?
Director: Professor Jean-Pierre De Laet
Assessor and jury president: Professor Pascal Minne
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
Signature content of MTBiz is its Article of the Month (AoM), as depicted on Cover Page of each issue, with featured focus on different issues that fall into the wide definition of Market, Business, Organization and Leadership. The AoM also covers areas on Innovation, Central Banking, Monetary Policy, National Budget, Economic Depression or Growth and Capital Market. Scale of coverage of the AoM both, global and local subject to each issue.
MTBiz is a monthly Market Review produced and distributed by Group R&D, MTB since 2009.
With a number of recent and upcoming developments in the OECD’s international tax work, we invite you to join a live webcast with experts from the Centre for Tax Policy and Administration for an update on the work relating to the tax challenges arising from the digitalisation of the economy.
Website: http://oe.cd/taxtalks
Country-by-Country Reporting proposal - Working Breakfast 28 June 2016FERMA
On 28 June 2016, MEP Jeppe Kofod hosted a working breakfast meeting today at the European Parliament about the proposal published on 12 April 2016 by the European Commission to extend country-by-country financial reporting to most multinational groups operating in the EU.
The European Confederation of Institutes of Internal Auditing (ECIIA) and FERMA stated that Internal auditors and risk managers have a key role to play in ensuring that future financial transparency standards are well understood, embedded into the strategy of large corporations and become a source of competitive advantage.
China Free Trade Zones discussion paper: Regulating a Free Trade Zone – Simpl...Alex Baulf
George Osborne presented Vice-Premier Ma Kai with a white paper on China’s free trade zones, produced by Grant Thornton in conjunction with TheCityUK and China-Britain Business Council.
* The role of free trade zones
* The role of corporate data collection and transparency
* Data collection, sharing and transparency in China: practice and pilot developments
* The UK approach to corporate data and transparency
* Corporate information collection and transparency The United States of America
* Corporate reporting in Canada
* Successful data collection, utilisation and transparency * Conclusion: Benefits and discussion points
Tax Gap Analysis and Digital Transformation Advisory for Tax AdministrationsDigitalTaxTechnologi
Tax Gap Analysis and Digital Transformation Advisory for Tax Administrations
Tax gap reduction
Increased tax revenue collection Decreased costs of tax administration
info@taxtech.digital https://taxtech.digital
Digital Tax Technologies (DTT) is an international expert in tax gap minimization, a trusted digital transformation advisor & solution provider for national tax administrations.
We help tax administrations around the world to reduce the tax gap, improve tax revenue collection and reduce the share of the shadow economy.
Our mission is to increase global fiscal transparency, improve tax compliance and administration, and ensure fair competition and welfare.
Our team consists of experts with experience in digital tax administration advisory and implementation in various European, CIS, Middle East, and African countries.
Tax Gap Minimization Strategy
To realize when and where the state loses potential taxes government should:
Apply the concept of the tax gap
Evaluate tax gaps for the main taxes
Develop a tax gap minimization strategy
Digital Tax Administration Concept
To minimize the tax gap revenue, tax authorities should:
Develop a concept of digital tax administration using objective data about taxpayers and the tax base
Build the digital infrastructure for data collection and interaction with taxpayers
Digital Transformation Roadmap and Implementation Plan
The digital tax administration concept should include a roadmap and implementation plan
With key initiatives aimed at minimizing the tax gap and increasing the collection of tax and excise revenues
Experience and Contacts
We are a global team of tax and digital experts working with tax administrations, global tax consultants, and top technology providers on the most important aspects of the digital transformation of national tax systems.
Our key areas of expertise are:
Digital transformation of tax administrations and transition to the real-time economy for the tax gap reduction
Implementation of digital track & trace solutions Implementation of online cash registers
Effective taxation of platform sellers and self-employed taxpayers in sharing and gig economies with eVAT / eInvoicing solutions
Advanced analytics/Big Data/AI for value-added tax administration Tailor-made and off-the-shelf software product development
End-to-end IT solutions design, implementation & support in cooperation with top software & hardware vendors and tax consultants
Contact Us for More Details
info@taxtech.digital https://taxtech.digital
Similar to Developing you business in China, Chinese tax health (20)
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Developing you business in China, Chinese tax health
1. Developing Your
Business in China:
Master the Chinese
Tax System
Part of the TCS Hong Kong European Road show
September 2013
2. Content
China
‒ An overview of Tax Structural Enhancements
‒ An overview of Tax Law Focus
‒ An overview of Tax Development Trends
Hong Kong
‒ Investment Holding Overview
‒ How to promote positive tax health: TCS
Hong Kong Solutions
Key Points
Contacts
Developing your business in China: Master the Chinese Tax System 2
4. Mandarin 101
Developing your business in China: Master the Chinese Tax System 4
How are you?
nǐ hǎo ma
I am Good!
wǒ hěn hǎo
Welcome to
China.
huān yíng nǐ lái dào zhōng guó
6. Key Facts and Figures (2012)
China is as large as the whole continent of Europe.
There are 22 provinces, 5 autonomous regions and 4 municipal cities.
The highest state body is the National People of Congress (NPC).
China has the worlds 3rd largest Gross Domestic Product (GDP):
€ 6,348 billion.
The worlds largest Population: 1.354 billion.
The worlds largest Foreign exchange reserves: € 2,478 billion.
A Tax revenue of: € 1,237 billion.
Source: Statistical Communiqué of the People's Republic of China on the 2012 National Economic and Social Development issued on
February 22, 2013
Developing your business in China: Master the Chinese Tax System 6
7. Tax Structural Enhancements
Municipal
Country
Head of your Tax
Bureau
There is national regulation
but local enforcement.
Meaning interpretation varies
from location to location.
It is important to
understand which body to
communicate with as well as
their interpretations of
regulation.
Be wary of the term „Guanxi‟
(relationships) as the
structures within local practices
can change.
Having the correct
documentation and
evidence to maximize
compliance is key.
Developing your business in China: Master the Chinese Tax System 7
How
Many
Different
local
practice
Beijing
(Governing body)
Provincial
8. Tax Structural Enhancements
China now has more participation in various multinational
organizations for example:
‒ World trade organization
‒ The Group of 20 (G20)
‒ The United Nations
‒ Joint international Tax Shelter Information Centre
‒ Study Group of Tax shelter administration and
research
‒ 101 double tax agreements and 9 Tax information
exchange agreements
Developing your business in China: Master the Chinese Tax System 8
9. Tax Law Focus
Scrutiny of Non
residents
Expanded
Jurisdiction
An era of
Transformation
Tougher tax
audit/
enforcement
• New anti avoidance rules.
• Equity transfer, tax free recognition.
• Transfer Pricing documentation.
• Tax residency.
• Beneficial owner (BO).
• Business purpose and commercial
substance.
• Ongoing release of circulars.
• Transforming China into a service
economy.
• Targeted location/industry incentive.
• Information exchange.
• Various transaction disclosure forms.
• Tax internal control.
• Tax administration of non resident with
effective management in China.
Developing your business in China: Master the Chinese Tax System 9
More
Sophisticated
Increased focus on…
10. Abnormal and
frequent profit
fluctuations
Persistent
losses or low
profits
Absence or
incomplete TP
documents
Non arm’s
length pricing
Transactions
with related
parties in tax
heavens
Expansion
despite low
profit or losses
Lower
profitability
than industry
average
What Makes Me a Target for an Audit?
Developing your business in China: Master the Chinese Tax System 10
One or all of the
following…
11. Tax Development Trends
B2V: Business Tax to Value
Added Tax
Key Facts:
Nationwide application from 1
August 2013 for all
transportation and modern
services sectors.
Expand to other industries by
2015.
The 3Vs: VAT registration +
VAT invoicing control + VAT
compliance.
Annual turnover > RMB 5 million
or small scale.
1+ 7 Model From the August 1 2013
Transport
Industry
› Land transportation
› Water transportation
› Air transportation
› Pipeline transportation
Certain
Modern
services
industry
R&D and technology service
Culture and creative services
Logistics auxiliary services
Movable property leasing
Authentication & consulting
services
Production, broadcasting and
distribution of radio:
television products
Developing your business in China: Master the Chinese Tax System 11
13. Tax Development Trends
Southern China
Development of three coastal
areas in Guangdong province,
subject to reduced CIT of
15% and rebate of individual
income tax for qualified
talents:
‒ Qianhai in Shenzhen
‒ Hengqin in Zhuhai
‒ Nansha in Guangzhou
Subject
Eastern/Central China
Shifting to services, high-
value outsourcing, new hi-
tech, environmental
protection.
Western China
A new wave of inbound
investment by offering special
fiscal incentives (e.g. reduced
15% tax rate).
Developing your business in China: Master the Chinese Tax System 13
15. Hong Kong Investment Holding
Hong Kong is NOT a tax heaven and there can be many
benefits from managing Chinese's business from Hong
Kong such as:
Territorial tax system.
No income tax on foreign dividends.
No capital gains tax.
No dividends/Interest withholding.
No foreign exchange control.
Advance Rulings available.
Keep expanding treaty network.
Proximity to China – One country Two Systems
Easier to obtain BO status under HK/China DTA
under Circular 165.
Developing your business in China: Master the Chinese Tax System 15
16. Hong Kong Investment Holding
Offshore trading in Hong Kong can be used to streamline
processes and maximize on business tax savings because:
Offshore trading is non-taxable.
Investment holding is non-taxable.
Service can be both onshore or offshore
Manufacturing via processing in China is 50% taxable
in Hong Kong.
Please see an example on the next slide…
Developing your business in China: Master the Chinese Tax System 16
17. Hong Kong Investment Holding
European
supplier
Asian
Customer
Developing your business in China: Master the Chinese Tax System 17
European
supplier
Hong Kong
Offshore trading
Asian Customer
Example 1: Basic Model
Example 2: Offshore trading via Hong Kong
Profit €50
Profit €20 Profit €30
Profit €30 in Hong Kong, can be claimed offshore.
Structural Example
19. Red Flags
What puts my company at risk?
What are the warning signs of weak tax health in China?
China operations set up for years without regular review.
Many inter-company transactions without proper
documentation.
Insufficient in-house resources to keep updated on the latest
tax regulations and compliance requirements.
Full reliance on local team to ensure compliance.
Not sure/not updated of local compliance status.
Non resident deriving income from China.
Developing your business in China: Master the Chinese Tax System 19
20. TCS Hong Kong Corporate Solutions
Meeting Management: Fieldwork and meetings with local
management/finance managers.
Documentation Review: review selected documentation and tax
filing papers.
Risk Management:
‒ Identification of technical issues, quantify under-reporting
exposures, suggest remedial action.
‒ Identification of major compliance issues and local irregularities
tax reporting.
‒ Resolve time sensitive issues before being targeted by a
government tax audit, minimize interest and penalty
Developing you r business in China: Master the Chinese Tax System 20
What we do…
21. TCS Hong Kong Corporate Solutions
Structuring: Identify tax planning and restructuring options to save
tax costs while better managing tax compliance.
Circular 698 review
‒ Substance and BO status of HK/BVI holding structure.
‒ If vulnerable to challenges.
‒ Where 5% dividend withholding rate is NOT automatic anymore.
‒ Tax resident certificate: conditions required to be fulfilled.
Transfer pricing study and documentation management.
Devise efficient cross charging mechanism to avoid trapped
cash.
Developing you r business in China: Master the Chinese Tax System 21
What we do…
22. TCS Hong Kong Individual Solutions
TEMP: Tax Efficient Mobility Program
Review existing staff secondment arrangement
Assess documentation and specific terms
Tax filing mechanism review: Tax under-reporting
exposures or tax planning scheme e.g. time apportionment
Recommendations to TEMP including revise secondment
contract, re-set staff reporting protocol, performance
evaluation system, segregation of duties etc.
Developing your business in China: Master the Chinese Tax System 22
What we do…
23. Key Points
The China and Hong Kong Markets:
There has been a tightening of taxation of non-resident in
China.
An increased focus on anti-avoidance including transfer
pricing.
Obsolete structures in China e.g. Representative Office.
New regional opportunities across China.
Redefined supply chain model in Hong Kong and China.
China is moving from low-end manufacturing to high value
added, environmental friendly manufacturing.
Hong Kong has a wider role in Chinese business development.
International mobilization can trigger corporate
exposures, be proactive and transparent.
Developing your business in China: Master the Chinese Tax System 23
24. For more information contact
TCS in France
Web:www.tcs-soregor.com
E-Mail: contact@tcs-soregor.fr
Tel. +33 (0) 1 44 78 89 90
Lucien Raveux, Senior Manager of
the International Tax and
Consulting Department
Silvia Létang, Client Relationship
Manager - FCCA Audit
Ruby Braithwaite, International
Marketing Manager
TCS in Hong Kong
Web: www.tcscpa.com.hk
E-Mail: info@tcscpa.com.hk
Tel: +852 3422 3823
Kenneth Young, Managing Director
Leo To, Director
Eddy Yeung , Director and head of
Tax for China and Hong Kong