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2020 KPMG China Annual Tax Conference

Webinar: 09:00-17:00, 15 December 2020

Webinar: 09:00-17:00, 15 December 2020

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Against the backdrop of COVID-19 disruption to the domestic and global economies, in 2020 the Chinese government implemented numerous measures to reduce taxes and fees and support business activity and employment. With a view to driving economic recovery and advancement, innovative tax incentives were announced for Hainan free trade port (FTP), for the Greater Bay Area in Guangdong and Hong Kong, and for the integrated circuit and software industries. These and other new policies have significant implications for enterprise planning, and the KPMG China Annual Tax Conference will examine these in detail across key industries. Impacts on the finance, real estate, automotive, technology and life sciences sectors will be explored, as well the specific issues for capital markets and for tax management outsourcing.

In view of COVID-19, this year’s conference will be held online, while at the same time facilitating “zero distance” in-depth exchanges with our professionals. This will provide you with a deep understanding of the evolving China tax landscape and help you prepare for 2021. 

Landmark tax developments in industries

Financial Service

For the financial services sector 2020 has seen new opportunities emerge with Hainan FTP, new regulations for financial holding companies, and developments in internet finance. The associated tax issues will be explored in detail.

Real Estate

For the real estate sector, we look at issues arising from the reorganization and disposal of non-performing assets, the significance of urban renewal schemes, and the emergence of new financing channels, in particular REITs. We also look at the impact of the new Urban Maintenance and Construction Tax and Deed Tax Laws, and at the management of tax risks from related party transactions.

Automobile

The auto sector has been marked in 2020 by the consumer impact of Covid-19, but also by the parallel advance of new green technologies and innovative business models. We look at how tax rules are applied to the new business models, the impact of consumption tax reform, and issues from new customs compliance requirements.

Date Tuesday, 15 December 2020
Time 09:00-17:00
Format Webinar
Language Mandarin
Fee Complimentary


For registration and enquiry, please contact:

Northern Region Rolali Li
+86 (10) 8508 7547
rolali.li@kpmg.com
Eastern and Western Region

Yvonne Chen
+86 (21) 2212 4212
yvonne.j.chen@kpmg.com

Southern Region

Kathy Chen
+86 (755) 2547 3418
kathy.y.chen@kpmg.com

Hong Kong

Phoebe Tsang
+852 3927 5624
phoebe.tsang@kpmg.com

Technology, media and telecommunications (TMT)

Covid-19 disruption has, in China as elsewhere, further spurred the digitalization of the economy, at the same time as the new STAR market has facilitated capital raising for sectors including mobile internet, cloud computing, big data and AI; this is giving rise to novel tax issues. At the same time, global efforts to update the international tax system in the face of digitalization took a big step forward with the October release of the BEPS 2.0 blueprints. In the conference we explore the tax planning and management implications for technology, media and telecommunications (TMT) enterprises.

Life Sciences

2020 has seen significant developments for life sciences in China, with an acceleration of domestic health care reforms and a flow of foreign capital into new hospitals. Tax challenges abound, including with the management of the two-invoice system, R&D tax incentives, and cross-border technology licensing. These are explored in detail at the conference.

Energy Resources

2020 has seen the energy sector deal with outsize fluctuations in global energy commodity prices as Covid-19 impacted demand expectations. This, taken together with environmental measures and tax demands on energy firms, have spurred sector players to optimize their supply chain pricing policies and refine their tax management systems. Chinese outbound investing energy sector SOEs have also been re-examining their overseas investment and holding structures. The implications of these developments are explored in the conference.

Hot tax topics

Tax Management Transformation and Tax Technology Services

Against a backdrop of relentless economic digitalization, KPMG can assist enterprises with upgrading their tax management. This includes setting objectives and implementation strategies, integrated management of tax data, and digitalizing tax invoice management, accruals, filings, and risk alerts. The conference will elaborate on KPMG's global tax platform, digital gateway, which provides one-stop access to KPMG's tax services and tax technology, integrating machine learning, data analysis, data visualization and AI technologies. These can make a decisive contribution to ensuring tax compliance and strengthening internal control.

Tax Management in Capital Market

The past two years have witnessed notable reforms in domestic capital markets, such as the launch of STAR market and GEM registration system. Innovative Chinese enterprises have been highly active in IPO activity on these domestic markets, as well as in the US and Hong Kong markets. Tax compliance is a central focus of regulatory authorities in their pre-IPO examinations, and notable tax issues have arisen for Chinese enterprises shifting their listings from overseas to the domestic markets. The conference will address these and other issues, such as employee equity schemes.

International taxation and digitalization

In October 2020, the OECD released blueprints for international tax reforms. These BEPS 2.0 rules are looking to alter the international allocation of taxing rights for major MNEs, including digital economy enterprises, and to institute a global minimum tax for all MNEs, regardless of industry. The conference will explore the significance of these proposals for the business models, investment structures, and tax management systems of all large internationally operating enterprises.

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