New Indirect Transfer Rules in China: Impact on Corporate Reorganization
and Merger & Acquisition Activities?
8:00-9:30am. The Chinese State Administration of Taxation (SAT) released the long-awaited Bulletin 7 on 6 February 2015. This circular is a comprehensive regulation that addresses the indirect transfers of Chinese taxable assets by foreign nonresident enterprises, and is to replace the relevant articles in the well-known Circular 698 and Bulletin 24 on indirect transfers. Bulletin 7 provides a set of guidance on assessing taxability of the transactions and exceptions, clarifies some unresolved issues, and improves administrative procedures on tax collections.
The speakers will discuss: Applicable scope of the bulletin . Reporting obligations on transaction parties. Newly introduced safe harbor rule on internal group restructuring. Black list transaction criteria . General assessment of taxability criteria . Respective penalties and interest on both buyer and seller for noncompliance. Applicability of US tax treaty. Possibility of claiming tax credit in US. Case sharing. First 15-20 minutes is for networking Light breakfast included Hosted by the China Business Committee and Taxation Committee
The American Chamber of Commerce in HK 1904 Bank of America Tower 12 Harcourt Road Central, Hong Kong