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Solution on VAT refund for YBTL International Trade (Shenzhen) Co., Ltd. |
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1. Backgrounds of Client and Project
Established in 2009, YBTL International Trade (Shenzhen) Co., Ltd. provides the overseas companies with the management services on the sourcing and logistics supply chain of the interior home products. After participating in some seminars held by BMI, combined with sufficient policy analysis,internal assessment and the necessary written report prepared by BMI,the CFO of this company obtained the support from headquarters in America to enter into service contract for cooperation, in order to assist the company in standardizing and improving its financial affairs, applying for tax incentives and refunding the taxation paid for the previous three years.
This company and its group have entered into long-term cooperation with the international famous accountant firm, and never provided preferential tax to Ying International Trade Co., Ltd.
2. Cooperation Activities and Results Achieved
March 5,2015:【BMI Shenzhen】succeeded in going through the refund approval procedure against the second paid local tax for【YBTL International Trade (Shenzhen) Co., Ltd.】, refunding tax amount of over RMB1 million(from November 2012 to December 2013).
Early in November 2014: 【BMI Shenzhen】assisted【YBTL International Trade (Shenzhen) Co., Ltd.】in receiving business tax and surcharges refund against its offshore service outsourcing from national treasury, refunding tax amount of nearly RMB1 million(from June 2011 to October 2012).
Early in September 2014: 【BMI Shenzhen】succeeded in going through the refund approval procedure against the local tax payment on the offshore service outsourcing for【YBTL International Trade (Shenzhen) Co., Ltd.】.
Late in July 2014: 【BMI Shenzhen】 obtained the approval on the offshore service outsourcing contract confirmation from Shenzhen Municipal Commission of Economy and Information Technology for【YBTL International Trade (Shenzhen) Co., Ltd.】.
Early in January 2014: 【BMI Shenzhen】assisted【YBTL International Trade (Shenzhen) Co., Ltd.】in standardizing and preparing the internal tax instruments, submitting the tax exemption approval for offshore services with a valid period of 5 years. Tax exemption was available when making tax declaration starting from January 2014, resulting in tax savings of nearly RMB 1 million per annum.
September 2013: 【BMI Shenzhen】 entered into cooperation contract with【YBTL International Trade (Shenzhen) Co., Ltd.】.
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