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HOT TOPICS OF CORPORATE TAXATION-2015

Since January 1, 2008, when China began implementing a new Enterprise Income Tax (EIT) Law and the Detailed Implementation Rules, a large number of laws and regulations have been enacted by the State Council, Ministry of Finance and the State Administration of Taxation. These regulations relate to revenue recognition, cost deduction, taxable income computation, incentives, administration of non-residency, transfer pricing and related party transactions, contemporary documentation preparation, mergers & acquisitions, tax deduction of assets losses, and so on. It is indeed a big challenge for each entity to master the gist of various related laws and regulations, especially when China needs to maintain tax revenue growth. As a matter of fact, it is of core value to understand well these critical issues in a short space of time to control risk and reduce tax costs.
Details regarding hot spots of the newly declared EIT law and related regulations will be analyzed and interpreted, from background introduction to practice, so that audiences can quickly grasp and make use of these new provisions to reduce tax costs and risks.

Training Objectives

Understand the definition of tax residents and non-tax residents
Command dealing with various incomes and verification of their sources
Command restrictions for various tax deductions
Grasp in detail tax deduction requirements of assets loss
Grasp the application of various tax concessions
Know the rules of mergers & acquisitions and liquidation
Know the administration for tax non-residency
Know requirements of transfer pricing and contemporary documentation
Grasp regulations regarding EIT consolidation for cross-region enterprises

Training Attendees

Tax directors, managers, specialists and other tax professionals
Chief financial officers, finance managers, supervisors and other finance personnel
General managers, board members and other chief executives


	Training Outline

	Tax Residents and Non-Tax Residents
	What are tax residents and non-tax residents? How to differentiate between the two definitions?
	What is effective management? How to justify?
	Will companies registered overseas be determined as tax residents in China?
	Revenue
	What are the forms and types of revenue according to EIT law? How to differentiate between tax revenue and accounting revenue?
	How to determine the source of income?
	How to recognize sales income?
	How to recognize revenue for services?
	What is the tax treatment for ‘buy one, get one free’?
	Whether is it necessary to recognize income for the disposal of assets?
	Is a special financial fund taxable?
	How to deal with income arising from government initiated relocation?
	How to recognize income from debt restructuring?
	Deduction
	What are reasonable wages and salaries?
	How to get tax deductions for employee welfare? And what is the connection with financial stipulation?
	What is the tax treatment for supplementary pension, supplementary medical and commercial insurance?
	What is the tax restriction of fees and commissions?
	What is the deductibility of interest expenses?
	What is the specific requirement for tax deduction of charitable donations?
	What is the proportion of tax deduction for advertising and marketing expenses s?
	What are the special requirements for the financial and insurance industry?
	How to verify loss of assets?
	How to justify whether claiming tax deductions for assets losses should or shouldn’t be approved by tax authorities?
	Incentives
	What are the specific requirements for technology transfer with the tax reduced or tax-free policy?
	What are tax incentives for software enterprises and software products?
	Can tax concessions for small, low-profit businesses be applied by entities that are levied upon deemed income?
	What are the requirements to identify high-tech enterprises? How to enjoy the concessions?

	How to meet the requirements for super deduction on research and development expenses?
	How to accelerate the depreciation of fixed assets?
	What are the tax incentives for technically advanced service enterprises?
	Can an entity get the superposition of enjoyment of tax incentives?
	How could the preferential tax policies be converged in the transitional period?
	M&A and Liquidation
	What is the enterprise restructuring under new EIT law?
	How to distinguish between taxable and non-taxable restructuring?
	Can a taxable restructuring be converted into a tax-free one?
	What are the issues regarding cross-board equity or asset transactions?
	How to proceed with liquidation under EIT law?
	Non-Resident Management
	Who is the withholding agent?
	What are the obligations of withholding agents?
	How to calculate the tax according to withholding agent ?
	What are the latest tax regulation changes for contracted work and the provision of services by non-residents?
	Transfer Pricing
	What are related parties under tax law?
	What are the methods of transfer pricing adjustment?
	How do tax authorities conduct the investigation and adjustment of transfer pricing?
	What are ‘advance pricing arrangement’ and ‘cost-sharing agreement’?
	What does ‘controlled foreign companies’ mean and how should anti-thin capitalization provisions be applied?
	What are the penalties for adjustment of related party transactions?
	What should companies prepare for the contemporary documentation?
	What information is generally included in the contemporary documentation?
	EIT Consolidation
	Who should EIT consolidation be applied to?
	How is the prepaid tax revenue allocated between a head office and its branches?
	How to pay EIT if the head office and its branch offices enjoy different tax rates?