European Union Chamber of Commerce in China
Finance & Taxation Working Group Beijing, Shanghai and South China
Working Group Meeting: Draft VAT Law and Draft Consumption Tax Law, Working Group Elections and 2020/2021 Position Paper Discussion
Time: 03:30pm to 5:30pm (GMT+8:00, China time), Friday 6th March, 2020 (Zoom online meeting)
Register here or send an email to tgroothaar@europeanchamber.com.cn
Deadline for election candidacy materials and Position Paper recommendations: Thursday 27th February, 9am
Dear Working Group Members,
We would like to invite you to attend the Finance & Taxation Working Group (F&T WG) meeting on VAT and Consumption tax reform on Friday, 6th March, from 3:30pm to 5:30pm via the digital platform Zoom (you will receive a link upon registration). This meeting will consist of three parts.
Firstly, this WG meeting will include the F&T Working Group 2020-2021 Chair elections. Only F&T WG members who had their registration confirmed for this meeting will have the right to vote online, with one vote per company. Online voting instructions will be sent via email to individual attendees prior to the meeting.
The second part of the WG meeting would be to discuss the draft VAT law and draft Consumption Tax Law. By the end of 2019, China’s Ministry of Finance (MoF) and the State Taxation Administration (STA) released the draft VAT Law and the draft Consumption Tax Law for public consultation. These draft Laws contain changes that consolidate, streamline, and improve existing rules. As a result, it is especially important for companies to grasp the potential changes in VAT and Consumption Tax Laws and be prepared for the impact these changes may have on business.
The third part of the WG meeting would be to discuss the 2020/2021 F&T position paper that will be drafted this coming half year (for the 2019/2020 F&T position paper click here).
At this meeting, Ms. Liqun Gao, Tax Partner at Deloitte China, will walk the audience through the changes reflected in the draft laws and explain the rationale behind them. Ms. Liqun Gao’s presentation and Q&A session will be followed by the 2020-2021 Chair elections and a concise 2020 Position Paper discussion, with the assignment of Lead Pens.
Meeting Agenda
- Opening Remarks
- Presentation by Liqun Gao, Tax Partner, Deloitte China on draft VAT Law and the draft Consumption Tax Law
- Q&A Session
- 2020-2021 Chair Elections and Online Voting
- Position Paper Discussion and Assignment of Lead Pens
- Closing Remarks
During this meeting we will hold our 2020-2021 chair elections. Working Group members interested in running for this year’s Chair elections, should take notice of the following:
Roles and Responsibilities
The Chairperson and Vice Chairs play a crucial role in driving the Working Group, including a leadership role in the drafting of the Position Paper, communicating key messages to Chinese and European government authorities and steering Working Group meetings. The desired characteristics of a Chair and Vice Chairs are a senior industry representative with relevant expertise and government contacts who has the time and willingness to support the Working Group. Previous participation in the Working Group is essential. Before applying for the position of Chair or Vice-chair, we recommend that you obtain approval from your company.
The maximum duration of Chairperson or Vice Chairperson of a Group is three consecutive years. Candidates are only eligible for Chair or Vice Chair positions if he/she is physically based in China.
The Finance & Taxation Working Group is going to elect one Chairperson and three Vice-Chairpersons (in the Beijing, Shanghai, and South China Chapters, respectively).
The Chairs and Vice-Chairs should represent different sectors and issues, therefor we encourage employees across industries as well as candidates both of Regulatory Affairs and Government Affairs background to apply for elections. If you are interested in running for Chair of Vice Chair, please submit the following information to tgroothaar@europeanchamber.com.cn before Thursday 27th February, 9am:
- Short resume/CV
- Motivation letter on why you wish to be elected Chair or Vice Chair, including:
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- why you wish to be elected Chair or Vice Chair
- how your background and experience match the role
- the goals you have for the F&T working group over the following 12 months
- how you intend to utilise or share professional resources for the benefit of the Working Group
For more information on the F&T WG or the European Chamber, please do not hesitate to contact Ms. Benedetta Borri at bborri@europeanchamber.com.cn in Shanghai, Mr. Tom Groot Haar at tgroothaar@europeanchamber.com.cn in Beijing and Mr. Peter Drucker at pdrucker@europeanchamber.com.cn in South China or visit our website.