Opportunities with tax administration digitalisation in China

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ITR

About this talk

Hosted by ITR and KPMG China, the live webinar will take place on May 27 at 10am London time (5pm Beijing time). China started to pilot electronic tax invoices for B2C transactions as far back as 2013 and has made significant progress in the meantime. Recently, China announced a nationwide rollout of electronic invoices to B2B transactions starting from 2021 and to be completed by 2025. Therefore, electronic and paper invoices will circulate in parallel for the next three to four years. Electronic invoices are expected to create both cost saving opportunities for businesses through a reduction in manual invoicing processes, and allow businesses to accelerate the digital transformation of their business-finance-tax ecosystems. In parallel, ever more large enterprises are digitalising their tax risk management. Enterprise tax digitalisation involves the integration of invoice management, tax compliance, tax management reporting and tax risk monitoring, and requires comprehensive tax knowledge and complex analytical procedures. In response to the needs of enterprises, KPMG has specially gathered experts in tax, management consulting, IT advisory and other aspects to set up a ‘tax transformation services’ team to support customers on their path to vastly improved tax risk management. In this session, KPMG experts will share their insights on China e-invoice and tax digitalisation developments, and how to get ready for the resulting business transformation.

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