Tax and Fund Repatriation Issues and Considerations in Scaling Down or Expansion of China Operations
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Description

This is a hybrid session. You have the option to attend this live in-person or online via zoom. Please select accordingly at registration.

The in-person session will be conducted at:
Singapore Marriott Tang Plaza Hotel - Ballroom 1 (Level 3)
320 Orchard Road, Singapore 238865

Covid-19 and the recent political climate may be affecting your investment plans in China. What are the alternative considerations? What are the tax and fund repatriation issues Management should consider?

In this timely workshop, the Trainer will explain and share the practical issues and real-life concerns via various cases.

Programme Outline

Case 1: Capital reduction
Co invested in real estate. After selling the property, Co has idle cash in China. Management decided to reduce the capital so as to remit cash to overseas.

  • The actual challenges and issues to be considered
  • How to calculate the amount of capital reduction and the procedures involved (including remitting the capital reduced to overseas)

Case 2: Liquidation
Co is a production company with factory premises. Management decided to sell the factory building and liquidate the company later.

  • How to calculate the amount of taxes on sale of factory building and disposal of other assets
  • What evidence should be prepared for loss of disposal (e.g. scraps of inventory, bad debt written off)
  • Potential issues in current accounts with overseas related companies
  • The procedures involved in liquidation

Case 3: Selling the company
Management of Co considered the possibility of selling the company to a Chinese buyer instead of liquidation.

  • Calculation of China taxes on sale of company and the procedures on remittances of sales proceeds to overseas

Case 4: Selling a business line to a Chinese investor
A Group with a number of companies, including Singapore trading company and Chinese factories considers selling the whole business line to a Chinese investor.

  • How to structure the deal and the difficulty involved in outbound investment by the Chinese investor
  • The potential China taxes on selling the companies and how to deal with the China tax authorities

Case 5: Utilisation of excessive cash
The Group has a number of subsidiaries in China. Some of them are cash rich.

  • Different alternatives to utilize the cash, including cross-border cash pool and corporate restructuring
  • The pros and cons of each alternative and China tax costs

Case 6: Expansion
The Group found a suitable factory building currently owned by a wholly foreign owned enterprise.

  • What are the alternatives to acquire the factory building and the China taxes involved
  • The potential tax risks on buying the shares and common methods to minimize the risks
  • The possible structures in new investment in China and the concerns on future tax and fund repatriation.

What you will learn

  • Identify different alternatives in restructuring businesses in China
  • Possible methods in remittance of funds from China
  • The China tax costs and implications of the alternatives

Target Audience

  • CEOs, CFOs
  • Regional Managers/Directors
  • Tax Managers/Professionals
  • Financial Controllers/Finance Directors/ Finance Managers
  • Anyone interested in understanding the practical Tax and Fund Repatriation Issues in Scaling Down or Expansion of China Operations

Expert Speaker

Bolivia Cheung
FCCA , FCPA

Bolivia has more than 20 years of experience in China tax and business advisory. She had spent 15 years in KPMG, before retiring as a Tax Partner in 2011. Having stationed in Guangzhou and Shanghai for over 8 years, she has vast experience in helping clients deal with their tax problems and challenges

Bolivia is currently a member of the ACCA China Forum, and was also in the Steering Team of ACCA Southern China from 2004 to 2017. She is a Member of Working Party on Seminars of Accountancy Training Board of Hong Kong Vocational Training Council, and also a Member of the Customer Liaison Group for SMEs of the Trade and Industry Department of the Hong Kong SAR. She also lectures on China Tax in Universities and Institutions in Macau, Hong Kong and China.

This is a hybrid session. You have the option to attend this live in-person (at Singapore Marriott Tang Plaza Hotel) or online via Zoom. Please select accordingly at registration.

  • Dec 06
    • $856.00 incl. GST (7%)
    Tue, 9:00 AM - Tue, 5:00 PM Singapore 7 CPE hours
    • $856.00 incl. GST (7%)
    • PD hours: 7

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One-Connection-One-Fee

Our webinars operate on a 'one-connection-one-fee' basis, so you can have your whole team participate together in a boardroom setting for one cost effective price, using one registered log-in connection. The registered attendee will receive a CPD certificate.

Recordings

Like the topic but can’t make the time? Register for the Live Session and you’ll receive the Recording regardless! Recordings are provided for webinars with a duration of 3 hours and less.