VAT reforms 1 year on - Effectively managing VAT audits, risks and opportunities; impact of future Golden Tax system...

This seminar will be held in: Hong Kong, Shanghai, Guangzhou, Shenzhen and Beijing.

12 May 2017 - 2 June 2017, 9:00 - 11:30, HKT Hong Kong, China

VAT reforms 1 year on - Effectively managing VAT audits, risks and opportunities; impact of future Golden Tax system and invoicing developments

The VAT reforms have now been in effect for about 12 months. Following the frantic activity of VAT implementation, the tax officials are now in the midst of actively rolling out their plans to engage with businesses to raise queries about their VAT compliance, as well as carrying out investigations and audits. Importantly, the ways in which investigations and audits are carried out are no longer limited to site visits, interviews and checking of documents. Nowadays the tax officials also rely on various sources of external or internal information to support their investigations. We foresee that with the introduction of Phase three of the Golden Tax System, these technology developments will equip the tax officials with a powerful new tool for tax investigations and audits.

KPMG has been involved at the coalface in resolving queries raised by the tax officials for our clients, and in the process, we have seen many instances where queries could have been avoided by better pre-emptive management of tax risks, as well as successful and unsuccessful cases.

In this seminar, we will share many of our experiences to equip businesses to:

  • Understand the latest developments in VAT management – specifically, what is the impact of the new Phase three of the Golden Tax System and the invoicing developments affecting taxpayers;
  • Effectively manage risk – what are the indicators which are likely to lead to a VAT audit or query, and how to prevent or pre-empt queries before they arise;
  • Know the target areas – what are the tax authorities looking for – we will share real examples of the most common focus areas;
  • Respond to tax authority queries – what is the process the tax officials typically adopt in raising queries or carrying out an audit, and how to respond effectively.
  • Explore VAT opportunities – in addition to proper risk management, what can businesses do to achieve costs savings and reductions in their tax burden;
  • Designing a sustainable VAT control framework in view of the potential audits.

Even if your business is not currently subject to a VAT audit or query, this seminar will help you to better manage risks and recognise opportunities in an environment where the tax authorities are clearly moving into a new phase of increased audit activity and enforcement action.

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Agenda

Region

Date and time

Veune

Hong Kong

12 May 2017, Friday
9:00am – 9:30am (Registration)
9:30am – 11:30am (Seminar)

Meeting Room 1-7
KPMG Office, 8th Floor, Prince's Building, 10 Chater Road, Central, Hong Kong

Shanghai

16 May 2017, Tuesday 
2:00pm – 2:30pm (Registration)
2:30pm – 4:30pm (Seminar)

Training Room 7
9th Floor, Plaza 66, 1266 Nanjing West Road, Shanghai, China

Guangzhou

24 May 2017, Wednesday 
2:00pm – 2:30pm (Registration)
2:30pm – 4:30pm (Seminar)

Training Room 3-4
22nd Floor, CTF Finance Centre 6 Zhujiang East Road, Zhujiang New Town Guangzhou, China

Shenzhen

26 May 2017, Friday 
2:00pm – 2:30pm (Registration)
2:30pm – 4:30pm (Seminar)

Meeting Room
10th Floor, China Resources Building5001 Shennan East Road, Shenzhen, China

Beijing

2 June 2017, Friday
9:00am – 9:30am (Registration)
9:30am – 11:30am (Seminar)

Meeting Room 1-3
9th Floor, KPMG TowerOriental Plaza, 1 East Chang An Avenue, Beijing, China

Guide
Region Contact

Hong Kong

Wing Cheung

Shanghai

John Wang

Guangzhou

Grace Tang

Shenzhen

Maggie Liu
Beijing Echo Zhang