US-China Tax Seminar

2017 was a milestone year for both the United States and Chinain terms of tax policy developments. During the year, the U.S. passed the most significant and comprehensive tax reform in decades, while China also released important legislation, including measures implementing the Common Reporting Standard, amendments to special tax investigation adjustments, mutual agreement procedures. China also signed the multilateral instrument intended to tackle BEPS.

In 2018, taxpayers will start to experience the effects of U.S.tax reform and new Chinesetax legislation. How will the US tax reform and new China tax legislation affect cross-border investment? In the face of the ever-changing global tax environment and globalization of business, whatcan the two countries learn from each other as tax policy continues to be a hot topic on the agenda of senior finance ministers globally, and how will the two largest economies in the world interact with each other in helping shape these developments?

University of Florida Levin College of Law with East China University of Political Science and Law are jointly organizing, and are pleased to invite you to attend, a one-day international tax symposium to be held on 25 June in Shanghai on the campus of East China University of Political Science & Law. The symposium is also being sponsored by the Tax Council Policy Institute, a non-profit public policy and research organization.

The one-day symposium will address international tax policy issues of particular interest to the U.S. and China as large market economies. It will cover the recently enacted U.S. tax legislation and other U.S. tax proposals, and recent Chinese tax initiatives of interest to a U.S. audience. We will also discuss another important topic: taxation of digital economy, amid the release of OECD and EU reports on taxation of digital activities.

Reception 24 June

We will hold a reception on the evening of 24 June. The reception is planned to be held from 5 to 7 pm at Deloitte Shanghai Office at 30F, Bund Center, 222 Yan An East Road. It’s 5 miles due east of the University. Nearest metro stations are Yu Garden (line 10) and East Nanjing Road (line 2).

Event Details 25 June [WORKING DRAFT]

Time / Agenda
8:30- 8:45 / Registration/Coffee-tea
8:45- 9:00 / Openingremarks
9:00- 10:30 / Session I-Competitiveness & Cooperation in tax policy: Multilateralism, Unilateralism, Bilateralism
10:30 - 10:45 / Coffee-tea break
10:45- 12:15 / Session II - CFC Rules & Anti-Base Erosion Measures: Tax Reform Developments
12:15- 2:00 / Lunch/Lunch session
2:00 - 3:15 / Session III-Digital Economy Taxation: Developments
3:15- 3:45 / Coffee-tea break
3:45 –5:15 / Session IV–Transfer Pricing & New Approaches to Profit Allocation
5:15– 5:20 / Closing remarks
5:20–5:30 / Group Photo Shoot (in front of Jiaoyi Building)

Detailed Agenda 25 June

Session / Time / Agenda
Opening remarks / 8:45- 9:00 / Professors Zeping Zhang, East China University of Political Science and Law
Mindy Herzfeld, University of Florida Levin College of Law
Lynda Walker, Tax Council Policy Institute
Session I
Competitiveness & Cooperation in Tax Policy / 9:00 -10:30 / Tax Competition v. Tax Cooperation: Who Benefits? Presented by Professor Tsilly Dagan of Bar Ilan University, Israel[15 minutes]
Tax Competition & Fiscal Federalism, ProfessorMichael Knoll, University of Pennsylvania[15 minutes]
Impact of U.S. tax reform on China presented by Prof. Jianwei Wang of Nanjing University of Finance and Economics[15 minutes]
Incentive measures from the perspective of international tax law, Prof. Zhiyong Zhang, Peking University[15 minutes]
Competitiveness of China’s new beneficial ownership rules, Abe Zhao, International Tax Director of Baker McKenzie FenXun [15 minutes]
Comment: Impact of U.S. tax reforms on private equity by Shannon Stafford, Tax Director of Carlyle [7 minutes]
Comment: Impact of the reform on multinational business by Nevin Chen, Asia Tax Director for Intel [7 minutes]
Session II
CFC Rules & Anti-Base Erosion / 10:45- 12:15 / Chinese CFC rules, presented by Associate Prof. Dongmei Qiu, Xiamen University[15 minutes]
New US Approach to CFC Rules: A GILTI Tax, presented by Moshe Spinowitz of Skadden Arps, Boston[15 minutes]
Recently released international tax rules, presented byProf. Yixin Liao, Xiamen University, director of International Tax Law branch of Chinese Fiscal and Tax Law Association[15 minutes]
New U.S. anti-base erosion rules: the BEAT, presented by Prof. Itai Grinberg,Georgetown University Law Center[15 minutes]
Comment: Impact of U.S. tax reform on multinational businesses presented by Timothy McDonald, Vice President Finance & Accounting, Global Taxes of P&G[7 minutes]
Comment: Impact of U.S. tax reform on multinational businesses, by Tom Roesser, Senior Director, Tax Affairs of Microsoft[7 minutes]
Comment: Impact of U.S. tax reform by David Allgaier, Partner Deloitte China [7 minutes]
Session III
Digital Economy / 2:00- 3:15 / OECD efforts on digital economy presented by William Morris,Deputy Head of Global Tax Policy, PwC[15 minutes]
Chinese tax policy for digital economy presented by Prof. Zeping Zhang, East China University of Political Science and Law[15 minutes]
Is there a digital economy? Presented by Mindy Herzfeld, University of Florida Levin College of Law[15 minutes]
Digital economy rules from a U.S. Tax Perspective, presented by Itai Grinberg, Georgetown University Law Center[15 minutes]
Session IV
New Approaches to Profit Allocation / 3:45 to 5:15 / Residual profit allocations, proposal of Oxford working group,presented by Paul Oosterhuis, Skadden Arps[15 minutes]
Taxing on a Destination Basis: The Chinese VAT, by Yan Xu of Chinese University of Hong Kong University[15 minutes]
Revising source rules for the 21st centurypresented by Pat Brown, Vice President & Counsel, Tax, GE Power and Renewable [15 minutes]
Formulary apportionment in the US and the EU by Joann Weiner,George Washington University[15 minutes]
Chinese TP practice, presented by Yongqing Ye, Partner of King & Wood Mallesons Shanghai, former partner of Deloitte Shanghai[15 minutes]
Comment: Location specific advantage issue in China TP, Peter Wang, LLM in International Taxation, University of Florida Levin College of Law[10 minutes]
Topics to be confirmed for the SAT officials / Yuesheng Jiang, vice director of Jiangsu Provincial SAT, topic to be confirmed.
Zuying Gong, vice director of Shanghai SAT, topic to be confirmed.

Logistic information

The symposium will be held at Jiaoyi Building of campus of East China University of Political Science and Law, Shanghai, China. The address is 1575 Wanhangdu Road, Changning District, Shanghai, China.

Hotels within walking distance to the campus include.

Renaissance Shanghai Zhongshan Park Hotel

Address: 1018 Changning Road, Changning District, Shanghai, China

Phone: +86 21 6115 8888

New World Shanghai Hotel

Address: 1555 Dingxi Road, Changning District, Shanghai, China

Phone: +86 21 6240 8888

Pentahotel Shanghai

1525 Dingxi Road, ZhongShan Park, Changning District, Shanghai, China

Phone: +86 21 6252 1111

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