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20230629 China Tax regulation update: Draft Value Added Tax Law and E-invoicing

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Programme Code:
20230629
Date:
29 June 2023 (Thursday)
Time:
6:30 pm - 8:00 pm
Speakers:

Ms Sarah Chin, Indirect Tax Partner, Deloitte China

Language:
English
Venue:
TIHK Office, 21/F, Kam Sang Building, 255-257 Des Voeux Road Central, Hong Kong
Fee:
$150 – $200
CPD Hours:
1.5
Seat:
100
Event Categories:
,
Application Form:
20230629 enrollment form

Description

China has stepped up its reform of VAT in recent years as part of efforts to cut taxes and fees on a greater scale, according to Ministry of Justice. On 27 December 2022, the latest draft of the VAT law was submitted to China’s Standing Committee of the National People’s Congress (NPC) for the first review and then published on 30 December 2022 for public consultation.

Similar to an earlier draft circulated for public consultation almost three years ago, the new draft imports most of the current VAT rules aiming to provide a stable policy environment. However, it also introduces certain changes such as the reclassification of domestic VAT-able transactions, removal of threshold requirement when defining VAT payers and deemed sales etc., which may impact businesses, notably the modifications to creditable input VAT. Also added to the new draft are relevant provisions on the electronic VAT invoice. Hence, it is crucial to understand the key modifications of the draft so as to assess the impact on enterprises and cope with the new changes.

We are pleased to invite the VAT expert Sarah Chin, Indirect Tax Partner of Deloitte China to discuss the key points of the latest draft VAT law, electronic VAT, and invoice management on how to help corporations to enhance the VAT tax management in order to seize more business opportunities.

Speaker Profile

Ms Sarah Chin, Indirect Tax Partner, Deloitte China

Chin is Indirect Tax Partner of Deloitte China. She led the China Indirect Tax and Customs team from 2008 until 1 June 2020, and the AP Indirect Tax and the AP Customs CoE from 2016 until 1 Jan 2020.

Chin started her career as an inspector with HM Revenue & Customs (HMRC) in the United Kingdom before embarking on a career in consulting. She spent seven years in the U.K., primarily advising on Governmental issues and International VAT, before relocating to Switzerland where she spent eight years establishing an International VAT Centre of Excellence. She later built and headed up an International VAT team in Switzerland for another Big 4.

Chin works with clients in planning and implementing complicated VAT and Customs structures globally and in China. She is experienced in resolving some of the most complicated Customs matters regarding TP Valuations, Classifications, and Anti-smuggling. Her main interest lies in implementing supply chain structures combining the optimal export VAT refund structure, utilizing Customs-driven reliefs. Although she has in-depth experience in a number of industries, such as luxury products, manufacturing and automotive, her specialization lies in the life
science and pharmaceutical sector. She is the Global Indirect Tax and Customs lead for some of Deloitte’s most strategic clients. Over the past few years, she has worked as a domestic expert with the Chinese Government on the design and approach of VAT Reform.

She has also written several articles for different publications, including International Tax Review (ITR), Taxation, and CCH’s China Tax Guide. She was quoted as Recognized Tax Adviser, World Tax Guide by ITR in 2009, and was named Indirect Tax recognized leader from 2012 through to 2021. She has also been consistently recognized globally as a leading indirect tax and Customs advisor. Chin is a Chartered Tax Advisor with the Institute of Chartered Accountants of England and Wales. She also works as recurring visiting faculty at the University of Zurich, University of Shanghai and University of Wuhan.

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