Many Companies and factories in China are badly impacted by the COVID-19 pandemic. They may even need to change their business models to continue to generate revenue.
The webinar will address the common tax issues companies in China are facing or will be facing post COVID-19, and how you can adapt your tax planning strategies to minimize the risk to your Chinese operations. Our highly experienced Presenter will also share practical pointers on how you can overcome the practical tax issues faced.
A Highlight of Key Areas:
Companies and factories in China may not be able to export their products overseas due to COVID-19 or different reasons. As such, they may need to sell domestically in China. Some companies may need to adjust their business models to allow them to sell in China, including selling online.
- Business scope
- Tax and customs issues
Bad debts and scrap/sale of inventories
- Bad debt written off – documents required to support tax deduction
- Foreign exchange and VAT implications for writing off debts from overseas customers
- Tax deductibility issues
Short-term and long-term funding of Chinese operations
- Tax and foreign exchange issues
VAT Issues
- General taxpayers can opt in 2020 to become VAT small-scale taxpayer (if conditions satisfied) – can this save tax?
- Decision required by management
Practical Case Studies