China joined the JITSIC officially

Posted by on October 12, 2011 under Anti-Avoidance | Be the First to Comment

On 20th December 2010, China joined the JITSIC officially, sent representatives to JITSIC’s Landon office, and involved in JITSIC’s anti-avoidance work comprehensively.
JITSIC was founded in 2004, and aimed at distinguishing and containing all kinds of malicious tax planning through real-time information exchange under bilateral tax treaties. Currently, JITSIC has seven members (Australia, Canada, Japan, Britain, USA, Korea and China) and two candidates (France and German). JITSIC set offices in Washington and Landon, and all members have sent representatives to these two offices for better involvements.
In the economic globalization and tax internationalization circumstance, the tax avoidance activities that abusing tax treaties and making use of tax system divergences and tax havens became more and more complicated and concealed. Through JITSIC, representatives could research jointly all kinds of tax avoidance models and trends, make real-time tax-related information exchange, increase the transparency of international trades, trace and investigate taxpayers’ tax avoidance, share experience, jointly distinguish and contain all kinds of malicious tax planning, and provide powerful support for members to exercise tax jurisdiction and prevent tax loss.
With the joint endeavor of members and representatives, JITSIC has become an important cooperation platform in international tax collection and management, and gained high attention from all tax authorities. China SAT will make full use of JITSIC platform, take an active part in anti-avoidance work, enhance the international cooperation in tax collection and management, increase the tax compliance, maintain the sate tax benefits, and construct a more fair tax environment for taxpayers.

Hwuason Lawyers named finalist in ALB Tax and Trusts Law Firm of the Year Award

Posted by on March 2, 2010 under Corporate Tax Planning, Hwuason News | Be the First to Comment

Hwuason Lawyers is pleased to announce that it has been recognised as finalist for ALB’s Tax and Trusts Law Firm of the Year Award. This is the second consecutive year that Hwuason has been nominated as a finalist for the award. The award recognises Hwuason as one of the top 5 tax and trusts law firm’s in China.

China’s rapidly changing corporate tax regulations make ongoing tax planning an essential part of doing business in China. Effective tax planning must be commercially viable and balanced so as to generate tax efficiencies and mitigate the risk of challenge by the tax authorities. As such, tax in China is becoming highly specialized and there is greater need for lawyers have a deep understanding and intimate knowledge of China’s tax system.

Hwuason, China’s first specialist tax law firm, has recognised this need for specialist tax lawyers and is able to provide its clients with the level of expertise that only a specialist firm can provide.

Hwuason offers comprehensive taxation services including advising on the taxation aspects of all matters including:

  • Mergers, takeovers, acquisitions, buy-outs and reorganizations;
  • Financings, investment funds and venture capital investments;
  • Personal tax planning, including family corporations, trusts and estates;
  • Preparation of tax disclosures in public transactions;
  • International transactions, investments and operating businesses of Chinese in other parts of the world and of foreign individuals and corporations in China;
  • Pension plans, employee benefits and other compensation arrangements for foreign companies in China;
  • Transfer pricing.
  • Tax dispute resolution and litigation

Hwuason’s Managing Partner, Liu Tianyong, indicated that the firm “recognises the importance for multinational companies to limit their overall tax exposure and to implement transfer pricing policies in line with both corporate international strategy and in compliance with China tax regulations.” The firm was “pleased” to receive the recognition, but Tianyong noted that accolades from clients is the greatest achievement for the firm.

For more information on the China Law Awards go to http://cn.albawards.legalbusinessonline.com/Finalists/35890/details.aspx

About Hwuason. Hwuason Lawyers was the first specialist tax law firm in China. A commitment to combining tax and legal services distinguishes Hwuason from other tax advisors. The firm offer clients an alternative to the ‘big 4′ accounting firms, both in terms of costs and the breadth of services provided, which includes M&A, tax controversy, cross-border and general tax.

For more information about Hwuason: www.hwuason.com.