China

Details

  • Service: Tax, Tax Certification Services
  • Type: Press release
  • Date: 12/21/2012

For media enquiries, please contact:

Ann Liu

Senior Manager, Market Services

KPMG China

 +86 (10) 8508 5068

 ann.y.liu@kpmg.com

 

KPMG Certified Tax Advisor (Shanghai) Co., Ltd. Formally Established 

21 December 2012, Shanghai

 

At a grand opening ceremony today, KPMG China announced the formal establishment of KPMG Certified Tax Advisor (Shanghai) Co., Ltd.. The announcement is a sign of the potential for further investments by KPMG China in a more specialized, dedicated, focused professional tax service.

 

Mr. Wang Wenyan, Vice-Chairman of the China Certified Tax Advisors Association, was present at the ceremony along with several officials from Shanghai Certified Tax Agents Association and Registered Taxation Experts Management Center. They offered their congratulations for the establishment of the CTA firm and expressed their high hopes for its future.

 

It has been 20 years since KPMG became the first international accounting firm to be granted a joint venture license in China. On 1st August, 2012, KPMG Huazhen was again the first among the big four, in this instance becoming the firm to convert from a joint venture to a special general partnership ("SGP"). Thanks to our early commitment to the China market and unwavering focus on quality, KPMG has built up a wealth of industry experience. The fact that so many prestigious companies in China trust KPMG to provide professional services is itself evidence of KPMG's leading role. Moreover, KPMG is at the forefront of public debates on tax policy and other important topics in the business community, and was named Best Tax Advisor by the renowned finance magazine “The Corporate Treasurer” during its 2012 Alliance Awards.

 

In recent years, as part of their efforts to ensure tax compliance, Chinese tax authorities have required increasing numbers of tax verification and certification reports. This trend closely reflects the various missions of the Chinese tax authorities: improving the efficiency and effectiveness of China's tax collection and management system, strengthening taxpayers’ awareness around tax compliance, and enhancing the social value of tax intermediaries. In response to this trend, and with the demands of its clients in mind, KPMG China has established KPMG Certified Tax Advisor (Shanghai) Co., Ltd to provide more comprehensive and rigorous tax verification and certification services to its clients. These services include the verification of corporate income tax returns, the verification of loss utilization before corporate income tax, the verification of the deduction of asset loss before corporate income tax, and other tax-related verification and certification services required by the State Administration of Taxation.

 

Speaking on the prospects for the new CTA firm, Stephen Yiu, Chairman of KPMG China, said: "The KPMG team has long combined local experience with a global perspective. With the collective intelligence of our global network and a profound understanding of tax laws and regulations, as well as rich cross-border operational experience, we are consistently able to provide high quality our clients with high quality services. The establishment of the CTA firm is the first milestone on a long and hard road. Many challenges await, challenges that can only be overcome through our people working together. We believe that the establishment of KPMG Certified Tax Advisor (Shanghai) Co., Ltd. will enable us to provide our clients with a wider, more prompt range of tax services."

 

- Ends -

 

 

About KPMG China's Tax Certification Services

 

Tax certification is a process whereby a Certified Tax Advisor (CTA) firm is engaged by a taxpayer to review the information in relation to specific tax matters, reach a conclusion or opinion in respect of the said matters and produce a certification report, with a view to increasing the degree of trust by Chinese tax authorities in the information on the said matters.

 

Shanghai KPMG Certified Tax Advisor Limited (KPMG CTA) has a national license to carry out, among other tax advisory and compliance services, tax certification services in relation to year-end reconciliation and settlement of CIT liability, deduction claims for allowable losses, deduction claims for losses in relation to assets and other areas as stipulated by the SAT.

 

Please refer to below link to find out more: http://www.kpmg.com/CN/en/IssuesAndInsights/ArticlesPublications/Pages/Tax-Certification-Services-in-China.aspx

 

 

 

About KPMG:

 

KPMG is a global network of professional firms providing Audit, Tax and Advisory services. We operate in 152 countries and have 145,000 people working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.

 

KPMG China has 13 offices (including KPMG Advisory (China) Limited) in Beijing, Shanghai, Shenyang, Nanjing, Hangzhou, Fuzhou, Xiamen, Qingdao, Guangzhou, Shenzhen, Chengdu, Hong Kong and Macau, with around 9,000 professionals.

 

KPMG China Connect

KPMG China Connect - a bilingual business newsletter

It reports KPMG's latest research and insights, client events, news and firm-wide developments.