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Feb 2013, Issue 4

Framework for consolidated VAT filing under the B2V pilot program

Following the roll-out of the Business Tax ("BT") to Value Added Tax ("VAT") Transformation Pilot Program ("Pilot Program") from Shanghai to 10 other regions, the Ministry of Finance ("MOF") and the State Administration of Taxation ("SAT") jointly issued Circular Caishui [2012] No. 84 on 31 December 2012, titled <Provisional Measures for the VAT Calculation and Reporting of Pilot Taxpayers with Headquarters and Branches under the Pilot Program> (hereinafter referred to as "Provisional Measures" or "the consolidated VAT filing scheme"). The Provisional Measures sets out a framework for consolidated VAT filing for pilot taxpayers with branches across pilot and non-pilot regions.

In this issue of our News Flash, we would like to highlight the salient points of the Provisional Measures and share our observations.

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