Past Events

China is preparing to make major changes to its tax policy. A recent adjustment introduced in 2015 that concerns payments for intangibles and intercompany services within multinational groups has grabbed the industry’s attention because businesses now need to strictly adhere to some new regulatory principles. Catherine Tsang, Partner of China Tax and Business Advisory Division in PwC, spoke at a Chamber roundtable on China tax reform trends and gave advice for companies on complying with new regulatory requirements. She believes China’s tax authorities would further push ahead with tax legislation in different industries, optimization measures for VAT as well as tax incentives refinement.

Cathy Jiang, Partner of Tax and China Business Advisory Services, PricewaterhouseCoopers, updated members on China’s state-owned enterprises reform at Chamber's roundtable luncheon. She also shared her expertise in dealing with tax issues over corporate restructuring and enlightened members on new investment opportunities. With deepening of SOEs reform in China, Hong Kong is believed to play a significant role by utilising its advantages to facilitate the going-out of Chinese enterprises. 

The Central Government passed a resolution at the Third Plenary Session in November last year to deepen the national reforms. Tax-related issues are of particular concern to businesses as the resolution makes it clear that it will examine deepening fiscal and tax reforms, and the future direction of taxation initiatives -- including further reforms on VAT, consumption tax, personal income tax, etc. Catherine Tsang, a Tax Partner in PwC's China Tax and Business Advisory Division, briefed members these reforms, how companies can benefit from the new policies, as well as how they can deal with the challenges under the new regulatory framework.