Given the increasing importance of tax law in China, it is a growing trend for Chinese law firms to build up a tax practice. Zhong Lun Law Firm is no different. The well known Peter Ni joined the firm from White & Case in February 2011 to lead its tax ...
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Given the increasing importance of tax law in China, it is a growing trend for Chinese law firms to build up a tax practice. Zhong Lun Law Firm is no different. The well known Peter Ni joined the firm from White & Case in February 2011 to lead its tax practice. A group of senior tax associates followed Ni from White & Case to Zhong Lun.
Ni and his team are advising a client on a $300 million acquisition of Chinese real estate. The deal requires the comprehensive analysis of the impact of Circular 698 and careful wording of the acquisition agreement to avoid possible double taxation on future exit due to the uncertainty created by the circular.
Ni is also advising a US Fortune 500 company on its group restructuring, where almost 10 Chinese entities will be consolidated into a newly established entity through mergers and asset transfers. Close attention is being paid to the project to avoid the taxation of inter-company restructuring under Circular 59, which sets out detailed guidance on the income tax treatment of reorganisations.
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