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Private equity – exit challenges

In tandem with the rapid increase in private equity (PE) activities in China over recent years, Chinese tax authorities have taken seemingly aggressive steps to protect its tax base. John Gu, Paul Ma and Henry Wong of KPMG China consider the tax challenges that will or will continue to be faced by PE investors especially and advise on measures to mitigate those exposures.

November 29 2013

Foreword

Khoonming Ho, Tax Partner in Charge, China and Hong Kong SAR

November 29 2013

Customs – from enforcer to enabler

The conventional perception of the Chinese Customs authorities has always been that of a trade restrictive border guard that imposes financial and administrative barriers for importers and exporters. However, Lilly Li, Anthony Chau and Eric Zhou of KPMG China observe there are signs that the Chinese Customs authorities are slowly adopting global practices that are geared more towards trade facilitation than trade restriction.

November 29 2013

Real estate – the tax landscape in China and Hong Kong

Chris Abbiss, Lewis Lu and Jean Jin Li of KPMG China foresee significant changes to the tax and regulatory environment in both Hong Kong and Mainland China over the next 12 months.

November 29 2013

Transportation and logistics – challenges of VAT reform

China’s unification plan for indirect taxes will see the dual business tax (BT) and value added tax (VAT) regime gradually replaced by a single VAT system. Many businesses in the transportation and logistics industry are still wrestling with the uncertainties and local variations created by the reform, so far introduced on a pilot basis. Jennifer Weng, Tracy Zhang and Bin Yang of KPMG China provide advice on how these issues may be resolved.

November 29 2013

Transfer pricing – Chinese authorities scaling new heights

The OECD released its BEPS Action Plan in July 2013 in an environment that continues to challenge global economic recovery. Cheng Chi, Irene Yan, Brett Norwood and Michelle Sun of KPMG China provide their insights on how China is raising its effort to combat aggressive tax planning and evasion and play a more critical role in transfer pricing enforcement and thought leadership globally.

November 29 2013

Editorial

Welcome to the third edition of China – Looking Ahead, a series of articles published in association with KPMG.

November 29 2013

CIT – cross-border transactions under scrutiny

While China is seeking to enhance its position as a favourable jurisdiction for international trade and investment, it needs to safeguard its tax base in the context of cross-border transactions. Chris Xing, Curtis Ng and Vincent Pang of KPMG China assess how the country is working to improve the efficiency of tax collection and combat tax evasion arising from cross-border transactions.

November 29 2013

VAT reforms to accelerate in 2014, with challenges lying ahead

On August 1 2013, the Chinese government announced the nationwide rollout of the first phase of the VAT pilot programme, a significant advance towards replacing business tax (BT) throughout mainland China with a value added tax (VAT) for the services sector. Lachlan Wolfers, John Wang and Shirley Shen of KPMG China look ahead at further VAT changes to come in 2014.

November 29 2013

Hong Kong – new tax initiatives in the pipeline

Hong Kong’s status as an international finance centre has been enhanced by recent developments relating to double taxation agreements, Islamic finance and tax information exchange agreements. Ayesha Lau, Darren Bowdern and Garry Laird of KPMG China examine these developments and consider how the OECD’s BEPS project may have an impact on Hong Kong.

November 29 2013

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