We are delighted to invite you to the next joint Beijing Insurance and Banking & Securities Working Groups meeting, to be held on Thursday, 27th October, starting at 16:00 at the European Chamber office in Beijing. This meeting will focus on the lobby strategy and actions related to the request of the Beijing Municipal Office of the State Administration of Taxation (BJSAT) to levy VAT based on cost to Representative Offices based in Beijing
Some Representative Offices member of the Insurance and Banking & Securities Working Group have contacted us as the BJSAT has asked representative offices to pay VAT based on the cost of their offices. This new policy will increase considerably the cost of representative offices based in Beijing.
This initiative of the BJSAT is quite similar to that of 2011 when the Representative Offices were asked to readjust the calculation of their Corporate Income Tax payable based on cost. At that time, the European Chamber successfully lobbied to waive this requirement for financial services representative offices based in Beijing.
If you would like to attend this meeting please send notification to Ms Yajie Shen (intern003@europeanchamber.com.cn) and copy Mr Xavier Sans Powell (xsanspowell@europeanchamber.com.cn) before 4pm of Wednesday, 26th October.