Unlock value from your indirect tax data using Data and Analytics – A must for every tax department

We are living in an era where VAT in China is at the forefront of discussions amongst government officials, economists, businesses, the media, and even the general public.

 

A unique challenge with VAT is that it is a transaction driven tax, and with the large volume of transactions used by most businesses, there is no practical capacity to analyse and determine if the correct VAT treatment of every transaction has been adopted. What if the wrong tax code was used? What if the wrong amount of input VAT was claimed as a result of a data entry error? What if duplicate invoices have been issued? 

 

These discussions highlight the importance of data and analytics, and how it can be used to provide valuable information to a business as a means of increasing revenue, finding savings, detecting errors and anomalies in data. 

 

To transform this data into knowledge and insights, you need solutions that can deliver informed decision making for your operations.

 

This is why KPMG has developed the Tax Intelligence Solution (TIS), which provides an integrated suite of VAT technology analytical tools, methodologies and insights, specifically adapted for China. 

 

The China-ready version contains analytics tests specifically written or adapted for Chinese VAT, with easy switching from Mandarin to English, ready to use on Enterprise Resource Planning (ERP) systems commonly in place in China, and with data security at the forefront of our service offering.

 

• Can your data be transformed into valuable information to enable you to identify opportunities to reduce your VAT liabilities?
• Do you, or your global team, have visibility over how much VAT you are paying and certainty that you are not overpaying, or underclaiming VAT credits?
• Can you provide real-time dashboard reporting and a snap-shot view of your VAT position?
• Is the VAT logic applied to your data correctly? Repetitive errors can occur and remain undetected, which may lead to substantial costs for your business.  

 

For further information, please refer to our website here. 

 

Highlights

In our seminar, we would like to discuss and share with you the following topics:

 

• Introduction to the concept of Data & Analytics
• The business value that Data & Analytics generates for your tax function
• Demonstration of Tax Intelligence Solution – KPMG’s approach for Tax Data & Analytics
• Real-life client success stories using TIS  

 

Who should attend?

TIS is suitable for any industry, ranging from traditional manufacturers, wholesalers and retailers which have been in the VAT system for some time, to industries which have more recently transitioned to VAT, including logistics, transportation, financial services, insurance, asset financiers, hotels and other hospitality providers, as well as F&B and property/construction. Essentially any business with a volume of transaction data can effectively deploy TIS.

 

The seminar will be conducted contemporaneously in Putonghua and English. There is no charge for attending the seminar although early registration is recommended due to the limited number of seats available.  

 

There is no charge for attending the seminar although early registration is recommended due to the limited number of seats available. 

 

We look forward to your participation.