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20201028 Latest tax development in China – Hainan Free Trade Port and Permanent Establishment under COVID-19

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Programme Code:
20201028
Date:
28 十月 2020 (Wednesday)
Time:
6:00 pm - 7:30 pm
Speakers:

Ms Carol Liu, Tax Partner, Ernst & Young

Mr Steven Lam, Manager, Tax & Business Advisory Services, Ernst & Young

Language:
Cantonese
Venue:
Live webinar
Proficiency Level:
Intermediate Level
Fee:
$150 - $200
CPD Hours:
1.5
Seat:
80
Event Categories:
,
Application Form:
20201028 flyer

Description

The government of the People’s Republic of China (PRC) established the Hainan Pilot Free Trade Zone in September 2018 covering the entire Hainan Island and would be gradually exploring and steadily promoting the establishment of a free trade port (“FTP”).  In June 2020, Overall Plan for the Construction of Hainan Free Trade Port (the “Plan”) was officially released granting greater reform autonomy to Hainan and aiming to build it into a globally-influential FTP by the middle of 21st century.  To further specify tax preferential policies outlined in the Plan and practical issues related to the implementation, relevant tax circulars and notices were released recently.

In addition, the COVID-19 pandemic has raised cross border tax issues, including Permanent Establishment (“PE”) issue.  Recently, the PRC State Taxation Administration shared its view regarding PE issue under COVID-19.

In view of the above, we will share with you the insights as follows:

·        Overview of the Plan for Hainan FTP

·        Benefits outlined in the Plan for investors in Hainan

·        Corporate Income Tax and Individual Income Tax preferential policies in Hainan

·        Sharing on the view of PRC tax authority regarding PE issue under COVID-19

Speaker Profile

Carol is a Tax Partner of Ernst & Young and has extensive tax experience working in China Mainland, Hong Kong and the UK for more than 20 years. She was based in London for two years as China Tax Desk Leader of EMEIA market.

Carol focuses on China and international tax advisory for multi-national companies and China domestic enterprises for both outbound and inbound projects, primarily cross-border transactions and restructuring.

Carol has extensive experiences in providing China tax and business advisory and compliance services for various industries, including manufacturing and retailing business, transportation and shipping, real estates, media, energy, technology, e-commerce and finance institutions, etc.

Carol is a Certified Tax Advisor (CTA) in China and China Certified Public Accountant (CICPA). Carol is Vice President of the Taxation Institute of Hong Kong.

Steven is a Tax Manager of Ernst & Young and has various experiences in provision of tax and business-related consultation services to clients from different industries of multinational and domestic companies, including manufacturing, high-tech, retail, oil and gas, financial enterprise, real estate development, service and trading company, etc.  His working experiences mainly include assisting foreign investors to establish business or liquidate

operations in China, providing tax planning and advisory services for group restructuring and merger & acquisition project, providing tax consulting services on application of tax preferential treatments and cross border remittance, providing tax compliance and advisory services to the PRC operations of multinational companies and providing tax health check and review for multinational and domestic companies, etc.