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.

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Mr. Wilson Luk
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Ms. Janny Tang
+852 2666 2880
Ms. Helen Hu
+86 10 5659 1199
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+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

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