The Chinese business and tax laws and regulations are in the state of flux. In recent years, there have been significant changes of China VAT regime, including Business Tax to VAT transformation, reduction of VAT rates, simplification of tax brackets, introduction of refund mechanism for excess input VAT credit, adjustment of export VAT refund rates, etc. The rules of VAT and other indirect taxes (especially Consumption Tax) will be adjusted further during the legislation process planned by the National People's Congress and the State Council. In the meantime, the Chinese tax authorities have been strengthening the administration of Indirect Tax reporting through the upgrade of Golden Tax system and introduction of electronic invoices. In light of the above, we have developed various Indirect Tax solutions to help enterprises to manage the process and control of Indirect Tax compliance with use of latest technology for tax digitization and automation, and improve Indirect Tax efficiency with in-depth analysis of the business operation flow.
Our China Indirect Tax Team comprises a team of professionals with rich indirect tax experience and integrated knowledge, both internationally and domestically, stationed in our Beijing, Shanghai, Guangzhou, Shenzhen and Hong Kong offices. We advise businesses on Chinese Indirect Tax matters and work on Chinese Indirect Tax developments. Our Indirect Tax Team in China is part of PwC global indirect tax network of 1,800 experienced and specialised professionals.
Service offerings
- Digital VAT and transaction management solution: Tailor-made integrated digital solution to manage VAT transactions, invoices and filings, enabling a centralised real-time VAT profile and risk management.
- Indirect tax compliance services: A comprehensive indirect tax health check covering VAT, consumption tax, land appreciation tax, property tax, etc. We also provide indirect tax filing/compliance services utilising digital tools/solutions.
- VAT refund and other indirect tax incentive application: We assess a company’s eligibility for indirect tax incentives based on its operation and profile. We also provide a one-stop application service for indirect tax preferential treatments, such as VAT refund, VAT exemption, etc.
- Indirect tax audit defence and dispute resolution: We help clients with their indirect tax disputes and tax audit defence by applying our knowledge in technical analysis and our insights on local practices.
- Transaction structure and model design: We analyse and calculate the potential cost of turnover tax under different transaction structures and models, and suggest the most suitable design to achieve a tax efficient transaction structure and flow.
- Indirect tax internal control and process optimisation: We assess the efficiency and effectiveness of clients’ turnover tax internal control system and operation process, and provide an optimisation plan based on the respective industry practice and transaction model.
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