China’s Ministry of Finance and State Administration of Taxation released Circular 106 last December, expanding its value-added tax (VAT) pilot program to additional industries. The circular also made significant updates to the VAT treatment of services related to the international transportation of goods. During the week of January 20, 2014, China provided further clarifications for freight forwarding agent companies in China with regard to Circular 106.
In light of the potential impact these changes may have on U.S. companies that are involved with international transportation business with China, KPMG LLP hill hold a one-hour webcast on March 6, 2014 at 11 a.m. EST that will cover the latest information on China’s VAT reform with specific emphasis on the latest development of Circular 106 as it affects international carriers, shippers and ocean transportation intermediaries.
Commissioner William P. Doyle of the U.S. Federal Maritime Commission will open the webcast to provide introductory remarks on the impact of Circular 106 on U.S. business. He will be joined by senior-level professionals from KPMG’s International member firms in China and the United States to discuss:
- Overview of China VAT reform
- China Business Tax/VAT development for international transportation industry
- Circular 106 and the implications on U.S. business
- Uncertainties and future development areas
Registration is now 0pen for the webcast – Taxation in China: VAT Treatment of International Transportation of Goods, Recent Changes Significant for Maritime Industry.
Register at http://www.kpmginstitutes.com/taxwatch/events/taxation-in-china-vat-treatment-of-goods.aspx