Recent years have seen the implementation of the all-sector Value Added Tax (VAT) reforms, the legislation for the Environmental Protection Tax and the Resource Tax, and the release of the consultation paper on the draft VAT and Consumption Tax Laws. These new indirect tax policies have brought benefits and opportunities for businesses in China. In parallel, enterprises would face tremendous challenges for their daily tax management due to increasing complexity and a degree of uncertainty.
Indirect tax is playing an increasingly significant role in China's tax system. This is made clear in hot topics such as the nationwide rollout of electronic VAT invoices, VAT collection in the era of the Digital Economy, and the leveraging of green taxes system to achieve carbon peaks and carbon-neutral goals. Enterprises in China need to adapt to the new tax environment changes and keep pace so to seize the opportunities.
KPMG’s indirect tax team has in-depth knowledge and a wide breadth of experience across all sectors. Our team leads the way in tax technical excellence, quality and integrity, and is well placed to provide enterprises with high-quality indirect tax services. In addition, our team is equipped with practical skills to navigate the best solutions for our clients.
We have been heavily engaged with policymakers and tax authorities at all levels across the country. Given this, we can share valuable and first-hand insights in a timely manner so that enterprises can anticipate changes and formulate strategies. In parallel, we can assist with effective communication between enterprises and tax authorities.
Our team specializes in indirect tax including VAT, Consumption Tax, Environmental Protection Tax, Resource Tax, etc.
