Tax Planning for Levying Value-added Tax in Lieu of Business Tax - Conpak CPA

Tax Planning for Levying Value-added Tax in Lieu of Business Tax

To eliminate double taxation, the PRC government has commenced to levy value-added tax in lieu of business tax (“VIB”) with Shanghai as a pilot city since January 2012. The reform of VIB has been extended to the transportation industry and certain modern service industries across the country since 1 August 2013.

Conpak's tax professionals in China has introduced tax planning services for the VIB so as to assist the companies to have a smooth transition during the progress of the reform and enjoy the benefits brought from the implementation of VIB, including zero tax rates for export services, duty-free concession and cost reduction.

The VIB is applicable to the following industries:

  • Transportation industry
  • Research and development and technical services: research and development, technology transfer, technical consulting, contracted energy management, engineering survey and exploration services etc.
  • Information technology services: software, circuit design and testing, information systems, business process management services
  • Cultural and creative services: design, transfer of trademark and copyright, intellectual property, advertising, convention and exhibition services
  • Logistics support services: Aviation, port, cargo and passenger terminal, salvage, freight forwarding, customs brokerage, and warehousing and handling services etc.
  • Leasing of tangible movable property: financial leases for tangible movable property and operating leases for tangible movable property
  • Certification and consulting services: certification, assurance and consulting services
  • Production, broadcasting and distribution services for movies and television programs

Our Services Include:

  • Application for the Eligibility as a General Tax Payer
  • Application for the Increase in Limit of the Value-Added Tax Special Invoice
  • Application for Value-Added Tax Concession
  • Application for Certification of Tax Exemption
  • Application for Tax Refund for Exported Products
  • Agency Services for Refund of Overpaid Tax
  • Accounting and Tax Treatment during the Transitional Period: Variable Levy, Tax Credit at the Period End and Financial Support Fund etc.
  • Merger and Split of Companies

Should you have any enquires about Diagnosis of China Taxation, please complete the form below and we will reply to you soon.

Please fill in the following form, our professionals will reply to you after receiving your enquiry.
* Required field

Mr.     Miss.     Ms.
Verify Code  
  
Ms. Jazzy Lee
+852 2666 2830
Mr. Jacky Lam
+852 2666 2801
Ms. Momo Jia
+86 10 5659 1116
Ms. Helen Hu
+86 10 5659 1199
Ms. Gloria Gong
+86 21 5389 6665
Ms Lydia Liu
+86 21 5389 6618
Ms. Helen Hu
+86 755 8828 8711
Ms. Jane Liu
+86 755 8828 8756

Contact Us

Chat
Tel
Email
Loading... loading
Loading... loading