Participants
Company Name Member
BASF-YPC Jimmy LUI Y
Aeroflex Microelectronics Cindy QIAO Y
Centor Architectural Lanrong WANG Y
DyStar Lucy ZHAO Y
Fiat Auto China Giovanni NOTARI Y
Franke Kitchen Appliance Sabrina YAO Y
Jinling DSM Resins Rong WU Y
Jinling DSM Resins Yuqing HU Y
Sofitel Nanjing Wee How LEE Y
Twentsche Fibers Wendy FU Y
European Chamber Ralitsa KANETTI Y
Agenda
1. Chairman Election
2. Future Agenda of the Working Group - roundtable discussion
Discussion points
1. Chairman Election
The current Chairman, Mr. Jimmy Lui, Director of Accounting, Information Systems / EDP at BASF-YPC, was unopposed in his candidacy and it was decided by the participants that he will continue to be the Chairman of the Working Group.
2. Future Agenda of the Working Group - roundtable discussion
The first point of discussion was the dates of future meetings of the Working Group, they were decided until the end of 2007. The dates however remain flexible, in case of change participants will be informed in advance.
1. May 16th (Wednesday)
2. July 18th (Wednesday)
3. August 15th (Wednesday)
4. September 12th (Wednesday)
5. October 17th (Wednesday)
6. November 14th (Wednesday)
7. December 12th (Wednesday)
It was decided that from now on the meetings will be held in the morning.
The meeting continued with brainstorming of ideas for topics of future discussion within the framework of the Working Group. As a result the group decided on the following topics:
Corporate Income Tax Reform
VAT tax refunds on exports
Social welfare schemes / payments
Recent regulatory changes in treasury and finance; cash and risk management in China
Compliance and Risk Management; Internal Control in Finance Department
Dividend and reservation from Company Law
Permanent establishment tax regulations
IT & ERP (Enterprise Resource Planning) Transfer Pricing
The exact sequence is yet to be decided.
The next meeting of the Finance and Taxation Working Group will take place on May 16th, 9:30 am.
Agenda:
1. Position Paper Discussion
2. Tax Reform – Chinese guest speaker will describe the impact of the new Corporate Income Tax Law on foreign enterprises