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The comprehensive guide to the world's leading tax firms

Baker & McKenzie maintains a well-established tax practice in both Hong Kong and China. The highly respected Michael Olesnicky leads the team of five partners, two special counsel and 13 other professionals.Travis Benjamin, promoted to special counsel ... [more]

Baker & McKenzie maintains a well-established tax practice in both Hong Kong and China. The highly respected Michael Olesnicky leads the team of five partners, two special counsel and 13 other professionals.

Travis Benjamin, promoted to special counsel in July 2010, paired up with Olesnicky to advise a Chinese bank and a sovereign wealth fund on the tax issues concerned with the formation of a $1 billion private equity fund focused on China. This deal is one of the larger private equity fund formation deals ever conducted in China.

Partner Jacqueline Shek has been busy running the firm's stamp duty practice, advising and representing various financial institutions in stamp duty audits in relation to guaranteed price trading programmes. The technical issues have widespread implications as many local and international financial institutions conduct similar types of business in Hong Kong.

Steven Sieker is advising a real-estate investment trust (REIT) on the tax and trust aspects of a listing transfer from Singapore to Hong Kong. This will be the first dual REIT listing in Asia, worth about $1.5 billion.

Led by managing partner Ryan Chang, Deloitte offers its expertise to clients in the areas of business tax, international tax, M&A, transfer pricing, and tax controversy.The firm set up the Asia Pacific International Core of Excellence (AP ICE) in Hong ... [more]

Led by managing partner Ryan Chang, Deloitte offers its expertise to clients in the areas of business tax, international tax, M&A, transfer pricing, and tax controversy.

The firm set up the Asia Pacific International Core of Excellence (AP ICE) in Hong Kong in 2010. Since its launch, AP ICE has grown to include 21 senior tax professionals from 13 countries, and has built up its reputation both domestically and overseas.

The AP ICE team advised a US listed company headquartered in Asia on its international expansion into Germany, Netherlands, Japan, Taiwan, Hong Kong, and the US, using planning techniques hinging on treaty benefits and business incentives in several countries. The team designed a tax efficient structure that could use various treaty benefits with maximum flexibility.

Chang, along with Lili Zheng, managing director of Deloitte AP ICE US, provided international tax advice to a foreign client with a substantial presence in China to optimise its supply chain and overall tax efficiency. The pair used a reverse hybrid entity in combination with other planning ideas involving Chinese, Hong Kong, European countries and the US, to help the client achieve its objectives.

Partner Kaiser Kwan leads a field audit and tax investigation team that closely explores Hong Kong and Chinese tax controversy trends and developments.

Ernst & Young has brought in a specialised team from Europe to help strengthen its presence in financial services.The firm launched its Asia Pacific Tax Centre in late 2010 to provide advisory services to clients that have a focus on Asia Pacific. A ... [more]

Ernst & Young has brought in a specialised team from Europe to help strengthen its presence in financial services.

The firm launched its Asia Pacific Tax Centre in late 2010 to provide advisory services to clients that have a focus on Asia Pacific. A recent addition to the Hong Kong office, Christian Pellone, leads the group.

International tax partners Christopher Finnerty and Alice Chan-Loeb joined the Hong Kong office in August 2010 from the Ernst & Young offices in Shanghai and Taiwan, respectively.

Tracy Ho oversees the tax practices in Hong Kong and Macau. While advising a client on tax restructuring, she discovered an error made by the client's former tax representatives in relation to the tax treatment of R&D, where a deduction of almost $125 million in expenses resulted.

Agnes Chan and her corporate tax team successfully assisted a global apparel company in claiming a tax refund of more than $13 million from the Inland Revenue Department (IRD) by lodging an offshore non-taxable claim on the commission income earned over the past six years.

The tax policy and controversy team under Joe Chan successfully helped a Hong Kong client resolve a permanent establishment dispute with a tax authority in Europe, generating a tax saving of around $5 million. The team has also assisted a client with the settlement of a tax audit case with the IRD, escaping with a minimal amount of tax and penalties. The dispute was mainly related to transfer pricing adjustments of around $13 million.

Lloyd Deverall retired as the head of tax at KPMG at the end of December 2010. He has been replaced by Khoon Ming Ho, well regarded for his experience in investment and funding structures, M&A and restructuring.Ayesha Macpherson Lau oversees the tax ... [more]

Lloyd Deverall retired as the head of tax at KPMG at the end of December 2010. He has been replaced by Khoon Ming Ho, well regarded for his experience in investment and funding structures, M&A and restructuring.

Ayesha Macpherson Lau oversees the tax practice in the Hong Kong office. John Kondos, a financial services and transfer pricing specialist, joined the firm from Ernst & Young in January 2011.

Chris Abbiss advised on the structuring of a co-investment and carry structure in the Asia-Pacific region. The structure addressed the tax exposures of the investor stakeholders in several jurisdictions, and had to be capable of use in future transactions involving multi-jurisdictional investments. The structure also takes into account anti-treaty shopping rules and anti-avoidance rules, such as Circular 698, in China.

PwC's tax practice is led by Peter Yu. Partner Rex Ho leads the financial services team, and advises leading financial institution clients on emerging tax issues faced by industries, from Hong Kong stamp duty exposures on financial products to PE risks ... [more]

PwC's tax practice is led by Peter Yu. Partner Rex Ho leads the financial services team, and advises leading financial institution clients on emerging tax issues faced by industries, from Hong Kong stamp duty exposures on financial products to PE risks in other jurisdictions.

During the year, Ho also assisted an industry association of tax directors from financial institutions in lobbying the Hong Kong government to simplify the stamp duty exemption procedures for stock borrowing and lending transactions.

Demand for transfer pricing services has been hot over the last 12 months, particularly in connection with China's transfer pricing documentation requirements and new practice notes issued by the Hong Kong tax authority. The Spencer Chong-led team, together with Cecilia Lee and Rhett Liu in Hong Kong, have handled a number of significant transfer pricing projects during the year.

Partners Brian Gilchrist and Elaine Chen oversee Clifford Chance's tax practice in Hong Kong. The pair, senior consultant Kenneth Leung, and the four other fee earners based in Hong Kong have had a successful year, attracting new quality clients and ... [more]

Partners Brian Gilchrist and Elaine Chen oversee Clifford Chance's tax practice in Hong Kong. The pair, senior consultant Kenneth Leung, and the four other fee earners based in Hong Kong have had a successful year, attracting new quality clients and winning cases.

The team is involved in a lot of both contentious and non-contentious work, stamp duty compliance and advisory work. One area of distinct growth within the firm's tax department has been the involvement of the team in a number of high profile tax controversies in the region.

With the increased focus of both domestic and international private equity clients in China, the firm is often sought out to advise on the challenging regulatory environment and to advise on strategic forward planning for exit strategies.

Under the leadership of Daniel Chan and Patrice Marceau, DLA Piper's practice has grown in terms of personnel and projects. The number of professionals in the tax group operating in Hong Kong, Beijing and Shanghai grew from 22 to 35 in the last 12 months, ... [more]

Under the leadership of Daniel Chan and Patrice Marceau, DLA Piper's practice has grown in terms of personnel and projects. The number of professionals in the tax group operating in Hong Kong, Beijing and Shanghai grew from 22 to 35 in the last 12 months, and includes a senior lawyer at the firm's China desk in the New York office.

The addition of Stephen Nelson in January 2011 has strengthened the firm's operations in Hong Kong and China. Nelson, previously the head of tax at King & Wood, is based in Hong Kong but will spend a significant amount of time in the Beijing office.

Peng Tao is at the China desk in New York, but is due to return to Asia in late 2011 to support Nelson's efforts in growing the Beijing practice.

The firm has used the last year to continue the development and expansion of a wide range of specialised tax practices such as transfer pricing, executive compensation, private banking, and personal tax planning.

With a worldwide network of tax specialists, BDO is well placed to meet the changing needs of both local and global businesses operating in Hong Kong.The tax team at BDO handle a range of tax matters including compliance, tax investigations and audits, ... [more]

With a worldwide network of tax specialists, BDO is well placed to meet the changing needs of both local and global businesses operating in Hong Kong.

The tax team at BDO handle a range of tax matters including compliance, tax investigations and audits, queries from authorities, transfer pricing, and stamp duty advice.

Late 2010 saw a shift of around 500 professionals, including experienced partners Gary James and Paul Chow, from Grant Thornton's Hong Kong office to BDO. The firm is now clearly established as the fifth largest accounting firm in Hong Kong after the big four.