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How can you benefit from the VAT reform in China?

Posted by PTL Group
PTL Group
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on Friday, 23 September 2016
in Business in China

China has been paving their way to a fiscal reform that will help them achieve the economic and social goals set in previous years. China’s first step towards their fiscal transformation was the VAT reform that was implemented in Shanghai in 2012. This initiative was expanded to pilot sectors across the country on August 1st 2012 due to its remarkable success and its bolster the slowing economic growth. On May 1st 2016 the reform was officially implemented throughout all China. The reform program seeks to replace business tax with a value-added tax to avoid duplicated taxation and to lower the tax burden.

The trial program launched in 2012 was originally applied to service sectors, telecommunications, and postal services among others. Now, taxes in construction, property and finance are also bound to the tax initiative. The manufacturing industry, which already operated under a VAT structure, will benefit from this reform as they will obtain tax breaks on research and development to incentivize innovation.

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Do You Need an Operational Audit for Your Chinese Office?

Posted by PTL Group
PTL Group
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on Friday, 23 September 2016
in Business in China

When would you need to conduct an operation audit?

When we meet managers from international companies’ headquarters they often tell us their concerns about their Chinese activities: after a few years they have the feeling that the situation is not under their control anymore, or at least they feel they don’t know the details of what’s happening in their Chinese office.

Other times, we meet companies that, after spending some time in China, have the need to grow or downsize their local activities.

Whichever might be the case, this is the right time to assess your business so you can gain back full control of your Chinese branch, or understand how to better proceed with changes you’d like to make in your business. This is the right time to conduct an operational audit.

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Finance Management is Critical in Operating Your Business in China

Posted by PTL Group
PTL Group
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on Monday, 29 August 2016
in Business in China

Interview with PTL Group CFO--Shirley Xia

Shirley Xia has over 10 years of experience as a financial controller and manager. She has successively worked in large state-owned manufacturing, trading, software and international freight companies, with extensive experience in financial management and tax planning. Joined PTL Group in June 2010, Shirley has overseen many projects in business auditing, WFOE set-up and operation and tax planning, etc.  

Q: Among the Auditing and Business Recovery projects you have carried out, which project did you manage to deliver satisfactory results for despite its challenging nature?  

A: My first project at PTL was to manage a turn-around project for an Italian manufacturing company. The company suffered from very tight cash flow and had many management issues. The company’s headquarter was hesitating whether to continue operating in China after having done so for several years yet without healthy revenue.  They asked the PTL team to audit and screen the company’s entire financial and HR situation, as well as the logistics and manufacturing work flows.

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KOL: Key Opinion Leaders

Posted by PTL Group
PTL Group
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on Wednesday, 01 June 2016
in Business in China

A new way of communicating with your costumers in China has emerged. Is your company already using this outstanding marketing tool?

Since 2013 KOL’s have been positioning themselves as a reliable and trustworthy way to reach your target audience, however, we must say that KOL’s have reached their maximum success this year turning into a million dollar industry in 2016. With agencies, schools and sponsors surrounding the KOL’s it has become each time harder and more expensive to identify and  get a hold of  a brand advocate, so in an attempt to understand a little bit more this industry, we have come up with a series of questions, that can unveil the myth that surrounds this marketing trend.

 

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Cosmetic Industry In China

Posted by Administrator
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on Wednesday, 01 June 2016
in Business in China

Trends, Opportunities And How To Import Your Cosmetic Product To China

In a time driven by the selfie generation and governed by social media; with consumers in constant pursuit of societies’ definition of “beauty” and deep-rooted upward aspirations for both beauty and health, it comes as no surprise that the beauty and personal care industry continues to accelerate. Even throughout conditions of economic downturn, the beauty market has proven both its ability to achieve stable and continuous growth as well as its capacity for resilience. The plethora of published statistics, certainly affirm this pattern.

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