Webinar: China's indirect tax changes - what to expect for the rest of 2021 and 2022
ITR and KPMG China hosted a webinar on October 13 to discuss the indirect tax challenges which lay ahead for businesses in China for 2021 and 2022.
Available on demand, watch the webinar which looks at the future of China's indirect tax regimes.
In association with KPMG China, the webinar took place on October 13 at 10am BST (London time) / 5pm CST (Beijing time).
2021 has been another challenging year for businesses, who continue their efforts to respond in an agile manner to the impacts of the pandemic and geopolitical changes. In parallel, many governments have taken the opportunity to introduce tax changes which would otherwise not be easy to implement during good economic times.
China has introduced many indirect tax changes in 2021 and it is understood that plans have been made to make further changes in 2022.
This ITR webinar:
Provides a stock take of the Chinese indirect tax policy changes in 2021
Previews the Chinese indirect tax changes anticipated for 2022, including but not limited to impacts from the Chinese VAT Law and Consumption Tax Law legislative process
Discusses anticipated Chinese green taxes developments
Head of indirect taxes, Head of supply chain tax
T: +86 10 8553 3311
Kenneth Leung is the lead partner of KPMG China’s supply chain tax practice, which consists of 150 professionals working in Beijing, Qingdao, Tianjin, Shanghai, Guangzhou, Shenzhen and Hong Kong SAR.
Kenneth has extensive experience in advising companies on indirect tax (VAT, customs duty, trade compliance, consumption tax and green taxes), in particular, indirect tax-efficient supply chain as well as indirect tax cost and risk management. He has also been assisting businesses in formulating their indirect tax strategies, processes and planning ideas when making investments and operating internationally, and he has been assisting businesses in a variety of industry sectors (e.g. technology, life science, real estate, entertainment, financial services, oil and gas, telecommunication, transportation, advertising, automobile, food and agriculture and advance manufacturing).
Kenneth has been working closely with the Chinese government and has been one of the leading advisors to the indirect tax policy makers. He has been working with the National People’s Congress, People’s Bank of China, Ministry of Finance, State Taxation Administration and General Administration of Customs on VAT reform and other legislative projects relating to indirect taxes such as VAT law, consumption tax law, environmental protection tax law and Hainan free trade port law etc. In addition to working with the central government departments, he has also been advising local governments such as Shanghai and Beijing on the introduction of VAT pilot reform as well as local incentives to attract investment.
Kenneth also has extensive experience in assisting companies to design and implement digital solutions to manage their taxes. Technology projects led by him includes the setup of electronic invoicing platforms, design of global trade and customs management systems and implementation of bespoke indirect tax management systems for multiple jurisdictions.