About the Event:

The VAT reforms have a significant impact on companies doing business in China, or with China. They affect pricing, contracts, IT systems and processes, accounting and finance functions, as well as tax.

To help you better prepare for the VAT reforms, The Canadian Chamber is pleased to invite from KPMG, Lachlan Wolfers, Tax Partner and VAT Reform Specialist, to share with you his insights and approach for the implementation of the VAT Reforms, as well as its impacts across all industries. It includes:

• Background of the VAT reforms and its implementation rules
• How can it facilitate the development of cross-border transactions
• Latest updates and impacts across 4 sectors (real estate, construction, financial services and lifestyle services)

About the Speaker:

Lachlan Wolfers
Head of Indirect Tax, KPMG China
Regional Leader, Asia Pacific Indirect Taxes

Since July 2011, Lachlan has been the leader of KPMG’s Centre of Excellence for Indirect Taxes in China, and prior to that, he was the leader for KPMG’s Indirect Taxes Controversy practices in Australia. He is currently a member of KPMG’s global leadership team for indirect taxes and is the leader for KPMG’s Indirect Taxes practice for Asia Pacific.

During his time at KPMG in Australia, Lachlan managed a substantial tax litigation practice, including conducting the first substantive GST case in Australia. He is also formerly a Director of The Tax Institute, which is the most prestigious tax professional association in Australia. In this role, Lachlan was frequently invited to consult with the Australian Taxation Office and Commonwealth Treasury on tax issues. In Australia, Lachlan also co-authored the leading textbook on capital gain tax, as well as authoring chapters for leading texts on incoming tax and GST.

In his current role, Lachlan is advising China’s Ministry of Finance and State Administration of Taxation in relation to several new developments, including the VAT reforms and the proposed introduction of a system of Advance Rulings in China. Lachlan is applying his experiences and insights with the VAT reforms for clients in a wide range of sectors, especially multinational companies in the IT, financial services, insurance, real estate and construction and consulting sectors.

Lachlan is a noted speaker and media commentator on tax issues, both in Australia and China. He holds a Masters of Taxation with First Class Honours, together with combined Economics and Law degrees (also with Honours), all from the University of Sydney.