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The comprehensive guide to the world's leading tax firms

Deloitte's China tax practice took an advisory role in shaping the country's VAT reforms and was the sole professional services firm involved in the legislation. The firm also utilised the resources of the global network of Deloitte member firms to assist ... [more]

Deloitte's China tax practice took an advisory role in shaping the country's VAT reforms and was the sole professional services firm involved in the legislation. The firm also utilised the resources of the global network of Deloitte member firms to assist the SAT's new Large Enterprise Division in drafting the Guidelines on Tax Risk Management for Large Enterprises. It aligns China's legislation with a more international standard of large enterprise tax management.

Ryan Chang and Emiko Okubo advised a Chinese taxpayer in the application for the first bilateral APA agreement between China and Japan and a corresponding transfer pricing adjustment. This is the first case concerning intellectual property. The team had to negotiate the long list of technical requirements outlined by Chinese and Japanese tax authorities.

The firm's indirect tax practice was boosted this year by the appointment of Sarah Chin to lead the group. Clients have also recommended tax leader Joseph Tse for his "diligent and accessible" advice.

The brains of the firm's tax group is the National Tax Technical Centre. In its third year of operation, it produces a full spectrum of internal and external newsletters, analysis, and thought pieces to help the practice's professionals and clients alike gain insight on increasing client tax benefits.

The rapidly changing tax environment, increased information sharing by tax authorities and the focus by governments around the world on compliance and enforcement has led Ernst & Young to establish a global tax policy and controversy (TPC) adviser network ... [more]

The rapidly changing tax environment, increased information sharing by tax authorities and the focus by governments around the world on compliance and enforcement has led Ernst & Young to establish a global tax policy and controversy (TPC) adviser network under the control of the firm's China country tax leader, Michael Sanders. The TPC team members in China, many of who have worked in the tax authorities in Hong Kong or China, are well versed with the law, practice and procedures of the tax authorities.

The firm represented a private equity firm in its $2.5 billion bid for a fixed-line telecom operator for a stake in its telecommunications, media and information-technology systems business. The firm has also been advising a China-based client on performing ... [more]

The firm represented a private equity firm in its $2.5 billion bid for a fixed-line telecom operator for a stake in its telecommunications, media and information-technology systems business. The firm has also been advising a China-based client on performing a bilateral cost allocation between US and China. This cost allocation will be the first of its kind negotiated in China.

The global downturn has brought KPMG's China practice more restructuring and debt financing work over the past 12 months.

Khoonming Ho, who is based in Beijing, is a well-respected tax adviser and has been instrumental in establishing the firm's global tax committee. Steven Tseng is at the head of a transfer pricing practice that has three partners, making it one of the largest transfer pricing departments in the country. A number of employees have worked for the SAT, which means the firm is well-placed to handle any disputes by the authorities.

In response to the continued growth in demand for outbound international tax planning services from Chinese companies seeking to invest abroad, PricewaterhouseCoopers has expanded its teams of Chinese speaking partners and staff with international tax ... [more]

In response to the continued growth in demand for outbound international tax planning services from Chinese companies seeking to invest abroad, PricewaterhouseCoopers has expanded its teams of Chinese speaking partners and staff with international tax expertise. For example, eight senior managers have joined the China tax practice from other offices around the world, including Holland and the UK.

During the year, Don Compton, a US tax partner, based in Shanghai, advised clients on tax accounting, with particular emphasis on accounting for income taxes under both US Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS). More and more domestic and multinational Chinese companies have asked the practice for help and support in establishing efficient tax functions and associated tax related controls and processes. Peers have recommended Edwin Wong and Yijun Yang for their international tax work and involvement in key M&A transactions.

The practice has taken a leading role in discussions with tax policymakers concerning many of the developing areas across the country and also on industry-specific issues. Projects have included advising on compliance rules and withholding tax treatment of dividends and capital gains for qualified foreign institutional investors; withholding tax treatment of dividends from the Chinese companies' overseas listed shares; trial guidelines of tax risk management and the creation of new tax policies to encourage private-equity investment in Tianjin.

Baker & McKenzie has a China tax team of five partners and one special counsel. Experience in tax planning, M&A, transfer pricing and tax controversy has established the firm as one of the leading tax advisers in China.Richard Weisman has returned to ... [more]

Baker & McKenzie has a China tax team of five partners and one special counsel. Experience in tax planning, M&A, transfer pricing and tax controversy has established the firm as one of the leading tax advisers in China.

Richard Weisman has returned to China from the US practice to strengthen the transfer pricing department. He will be focused on China outbound work and the transfer pricing implications for US multinationals operating in China.

Jon Eichelberger and Glenn DeSouza advised a client on its tax restructuring in China, including income tax, VAT and customs duty implications in connection with the restructuring of the bonded manufacturing model adopted by its factories in China. The project also involved transfer pricing planning in respect of the intra-group transactions involved in the bonded manufacturing activities.

Brendan Kelly conducted tax and legal analysis for the establishment of a Cayman Islands offshore limited partner (LP) fund designed to aggregate investors and target stakes in Chinese operating entities. The project was described as "particularly challenging" in light of the new Enterprise Income Tax Law, and issues relating to whether the LP fund, the general partner, its investment committee or any other elements of the structure would be managed and controlled in China, and so tax resident there.

In response to the recent tax reforms, including the elimination of broad tax incentives for foreign investors, White & Case's tax attorneys have been busy assisting clients in rethinking their traditional China tax planning strategies, as well as evaluating ... [more]

In response to the recent tax reforms, including the elimination of broad tax incentives for foreign investors, White & Case's tax attorneys have been busy assisting clients in rethinking their traditional China tax planning strategies, as well as evaluating areas of risk and how to minimise such risks.

In the year since becoming head of China tax, Peter Ni has been involved in some of the firm's major transactions. With Jiang Bian, he advised a leading Chinese bank in its acquisition of a European bank. The structuring involved a number of key Chinese tax issues such as controlled foreign corporations (CFCs), treaty shopping, indirect foreign tax credit, and thin capitalisation. It also required innovative solutions to comply with European anti-avoidance rules.

The downturn in M&A work has not affected Grant Thornton. Gary James leads the tax practice for the Asia-Pacific region and has made sure that the firm has kept busy in a quiet market. Restructurings and reorganisations have been the order of the day ... [more]

The downturn in M&A work has not affected Grant Thornton. Gary James leads the tax practice for the Asia-Pacific region and has made sure that the firm has kept busy in a quiet market. Restructurings and reorganisations have been the order of the day as clients struggle to cope with the slowdown. The firm is beginning to establish a strong transfer pricing department in China to meet the demands of their clients as they get to grips with the new contemporaneous documentation requirements.

Hendersen Consulting - Taxand was established five years ago and is part of the Taxand global network of independent tax firms. The firm operates with four partners and around 40 tax professionals. It regularly represents large multinational companies ... [more]

Hendersen Consulting - Taxand was established five years ago and is part of the Taxand global network of independent tax firms. The firm operates with four partners and around 40 tax professionals. It regularly represents large multinational companies on corporate taxation, M&A tax, human capital and customs tax. With an increasing workload thanks to the growing demand for restructuring work, managing partner Dennis Xu, who specialises in international and corporate taxation, is set to have a busy year ahead.

O'Melveny & Myers is one of the few foreign law firms in China with a long-standing China tax practice. The practice comprises a considerable number of tax attorneys based in Beijing and Shanghai, who are trained in both China and US tax laws. The practice ... [more]

O'Melveny & Myers is one of the few foreign law firms in China with a long-standing China tax practice. The practice comprises a considerable number of tax attorneys based in Beijing and Shanghai, who are trained in both China and US tax laws. The practice boasts both cross-border and local capabilities, with a strong transactional emphasis. Lawrence Sussman leads the practice and is recommended by his peers, He has more than 13 years experience of Chinese law. Anita Choi and Fiona Chen were brought in over the past 12 months to help work with the firm's growing client base, which includes Goldman Sachs and Honeywell.

King & Wood believes its contacts within the local tax bureaux makes the firm stand out when compared to its competitors. This connection with officials and understanding of the way they operate puts the firm in good stead in tax dispute cases.Following ... [more]

King & Wood believes its contacts within the local tax bureaux makes the firm stand out when compared to its competitors. This connection with officials and understanding of the way they operate puts the firm in good stead in tax dispute cases.

Following the new tax laws in China, Stephen Nelson, the head of tax, and Alice Zhang represented a multinational telecommunications company in the review and restructuring of its entire China investment and supply chain structure. This project integrated business tax, transfer pricing and legal considerations, and involved the entire senior management of the company involved in China and was worth an estimated $250 million.

Latham & Watkins' position as a US law firm has benefitted their China tax practice over the past year. The firm regularly takes advantage of their US-based lawyers to secure work.Co-chairs of the firm's Asia tax practice Samuel Weiner and Jiyeon Lee-Lim ... [more]

Latham & Watkins' position as a US law firm has benefitted their China tax practice over the past year. The firm regularly takes advantage of their US-based lawyers to secure work.

Co-chairs of the firm's Asia tax practice Samuel Weiner and Jiyeon Lee-Lim both worked together in Latham's representation of Zhongwang in their $1.2 billion initial public offering. The transaction required the application of complex US tax rules to a complicated organisational structure, all in the context of an ever-changing, and often convoluted, Chinese regulatory scheme. The pair also represented Trina Solar in a $138 million public offering of convertible senior notes.

Lee-Lim and Weiner are both capital markets specialists, but regularly draw on the expertise of Rob O'Shea who, from the Los Angeles office, handles complex Asian M&A matters.