KPMG VAT Reform Forum: New VAT policies affecting asset management, funds and trusts in China

This seminar assists you in managing the effects of China’s new VAT system on financial products, funds and trust interests...

10 January 2017 - 17 January 2017, 9:15 - 11:30, HKT

China is amongst the first countries in the world to have a Value Added Tax (VAT) apply broadly to the financial services sector, including on the transfer, issuance and redemption of financial products, funds, trusts, and asset management services. 

On 21 December 2016 China’s Ministry of Finance and State Administration of Taxation jointly issued Circular Caishui [2016] No. 140 (Circular 140), which contains a number of new Value Added Tax (VAT) policies which potentially impact on both onshore and offshore asset managers, funds, and trusts, provided they hold assets in China, or the funds or trust interests are held by Chinese investors. The new policies take effect retrospectively to 1 May 2016. Put simply, they can lead to significant unforeseen liabilities for those managing assets, and require careful implementation for the benefit of investors. 

 

This seminar will assist you to better understand:

  • Who is the VAT taxpayer for asset management products, and how is the VAT to be accounted for
  • How asset managers, fund managers and trustees should be protecting themselves from personal liability, and how to manage VAT for and on behalf of investors
  • How to give effect to Circular 140 retrospectively
  • Changes which may be required to fund and trust documentation, accounting records etc.
  • The lifecycle of a fund or trust and those events which may give rise to VAT liabilities and those which are not subject to VAT, considered by reference to product type and investor type  

 

Attendance at this seminar is critical to assist you in managing the effects of China’s new VAT system on financial products, funds and trust interests, including for year-end accounting purposes.  

There are limited seats in the seminar so please register as soon as possible. Please notify us the day before the seminar if you would like to cancel your registration.

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Agenda
Date Time Location Venue Language
10 January (Tuesday) 9:15am - 11:30pm Hong Kong Prince's Building office English
12 January (Thursday) 2:00pm - 4:30pm Guangzhou Guangzhou office Mandarin
17 January (Tuesday) 2:00pm - 4:30pm Shenzhen Shenzhen office Mandarin

 

Shenzhen office
Speakers Guide

Registration and enquiries

Guangzhou

To register, please proceed to this page for detailed registration arrangement.

 

Shenzhen

To register, please proceed to  this page for detailed registration arrangement.
 

Hong Kong

To register, Please copy the following content with your information and email to marketservices.hk@kpmg.com for registration with the email subject of KPMG VAT Reform Forum: New VAT policies affecting asset management, funds and trusts in China (Tuesday, 10 January 2017)

Please sign me up for the KPMG VAT Reform Forum: New VAT policies affecting asset management, funds and trusts in China 

 

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We look forward to meeting you. Should you have any enquiries, please feel free to contact us:

Hong Kong Wing Cheung
Guangzhou Grace Tang
Shenzhen Maggie Liu