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At a time when tax practices are content just to survive, PricewaterhouseCoopers have decided to adapt the focus of their firm. The firm acquired Clarendene, a specialist law firm, to help offer a full range of tax services, including a more law-focused ... [more]

At a time when tax practices are content just to survive, PricewaterhouseCoopers have decided to adapt the focus of their firm. The firm acquired Clarendene, a specialist law firm, to help offer a full range of tax services, including a more law-focused practice. This gives the firm an advantage over its big-four rivals.

The international tax practice now consists of 80 advisers and 70 work in transfer pricing.

Former UK leader of indirect tax, Patrick Walker, clearly enjoyed his secondment with the firm last year and decided to make the move permanent in March 2009. Seven new partners were appointed over the past 12 months, including Dino Farronato, who became an international tax partner at the firm.

Anthony Klein and James Strong represented Jiangsu Shagang in its merger, worth around $400 million, with Grange Resources. This was the first significant Chinese investment in Australian resource assets. David Pallier and Gavin Majoram had to work quickly in Commonwealth Bank's takeover of Bank West. The deal was worth around A$2 billion ($1.7 billion) and the team had to identify and manage the tax risks involved in the acquisition in a short time-frame.

Clients have recommended the practice for their professionalism and their willingness to go "that one step further".

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.

While the downturn has affected professional tax services, during 2009 PricewaterhouseCoopers continued to provide advice for clients on numerous projects and transactions. The firm boasts 42 partners in the Hong Kong and Macao offices and over 340 tax ... [more]

While the downturn has affected professional tax services, during 2009 PricewaterhouseCoopers continued to provide advice for clients on numerous projects and transactions. The firm boasts 42 partners in the Hong Kong and Macao offices and over 340 tax professionals.

Services related to transfer pricing, particularly in connection with China's new documentation requirements, continue to be in high demand. The firm's transfer pricing team includes a number of specialists with international experience, including David McDonald who joined from the UK firm. He will focus on the transfer pricing issues within the financial services industry both in Hong Kong and China.

US corporate tax services remain in high demand and the firm operates with the largest US corporate tax practice in Hong Kong. The team comprises two partners, Tony Tong and Paul Ho, and over 20 dedicated US tax staff.

PricewaterhouseCoopers' tax practice is made up of more than 50 partners. The firm makes use of being part of an international network to understand international ideas and apply them on a local basis.Head of transfer pricing, Shyamal Mukherjee, has ... [more]

PricewaterhouseCoopers' tax practice is made up of more than 50 partners. The firm makes use of being part of an international network to understand international ideas and apply them on a local basis.

Head of transfer pricing, Shyamal Mukherjee, has been widely recommended by peers and clients for his years of experience and understanding of complex tax matters. Tax lawyer, Dinesh Kanabar has also been applauded for his cross-border structuring work.

The firm regularly undertakes large transactions as well as long-term projects. One project involved the development and implementation of a global transfer pricing policy for several countries, the establishment of a central entrepreneurial structure and the conversion of several existing affiliates into contract manufacturers or limited risk distributors. The project also entailed an analysis of contractual arrangements across locations to realise savings in the supply chain through profit portability. Taken together with an investment restructuring exercise, there was a need for marrying the transfer pricing aspects with the new holding structure.

PricewaterhouseCoopers has continued to advise on many significant transactions in Indonesia. In particular, deal activity in the energy and mining sector has remained active despite the economic downturn. The firm employs 170 tax professionals, of which ... [more]

PricewaterhouseCoopers has continued to advise on many significant transactions in Indonesia. In particular, deal activity in the energy and mining sector has remained active despite the economic downturn. The firm employs 170 tax professionals, of which nine are partners. There remains significant interest in the coal sector by investors from India and China. The firm's tax practice is headed by Ray Headifen, who, with over 15 years tax experience, has been recommended for his cross-border structuring. Headifen and the firm have been involved in three significant bank mergers over the past year. Under new merger rules introduced in 2008, the firm has taken advantage of the increasing interest from foreign banks looking for a stake in the Indonesian banking sector. Ay Tjhing Phan heads up the firm's transfer pricing group and has overseen 10 significant transfer pricing studies in the past year. Engeline Siagian leads a group of dedicated tax dispute specialists.

With over 500 tax professionals at hand, PricewaterhouseCoopers is more than capable of providing a full range of tax services. Hiroyuki Suzuki oversees the whole practice in his role as its chief executive officer and has experience in the structuring ... [more]

With over 500 tax professionals at hand, PricewaterhouseCoopers is more than capable of providing a full range of tax services. Hiroyuki Suzuki oversees the whole practice in his role as its chief executive officer and has experience in the structuring of cross-border and domestic real estate investments. The team boasts one of the largest financial services groups among its big-four rivals in Japan: eight partners and 104 support staff. This group complements a strong transfer pricing team consisting of four partners and 42 professionals, led by Akio Miyamoto. Miyamoto is one of the longest serving transfer pricing practitioners out of all the big-four firms.

Peers have recommended Jack Bird for his cross-border M&A work. Other notable specialists include Sachihiko Fujimoto, the head of the financial services tax practice, Kazuya Miyakawa for M&A and cross-border structuring, Raymond Kahn for real estate and Munehiko Nagai for customs matters.

PricewaterhouseCoopers has adopted an alternative strategy to help its clients survive the increasing scrutiny from the tax authorities. The firm has hired three government officials to help gain a better understanding of the way the authorities operate. ... [more]

PricewaterhouseCoopers has adopted an alternative strategy to help its clients survive the increasing scrutiny from the tax authorities. The firm has hired three government officials to help gain a better understanding of the way the authorities operate. The appointment of Kaziah Abd Kadir, Tan Kwong Jin and Ng Oi Leng were described by head of tax Khoo Chuan Keat as "enabling us to open doors that we would have otherwise struggled to ring the bell on". Since her appointment, Kadir has been helpful in increasing the firm's understanding of the country's two stimuli packages as she was previously deputy director-general for one of the country's trade ministries. The firm have also brought in audit specialist, Christopher Low, from KPMG.

International tax services leaders, Dorothy Ooi and Lim Yiek Lee have expanded their team in the past 12 months and now regularly cooperate with their Cambodia, Loas, Thailand and Vietnam offices to establish greater cooperation between the countries for investors looking at the region to invest.

PricewaterhouseCooper's tax practice is led by Tony Gault. The firm has strengthened its tax team with addition of three partners. Darryl Eady and Chris Leatham were both promoted from director, while Julia Hoare transferred from the advisory division. ... [more]

PricewaterhouseCooper's tax practice is led by Tony Gault. The firm has strengthened its tax team with addition of three partners. Darryl Eady and Chris Leatham were both promoted from director, while Julia Hoare transferred from the advisory division. Arun David retired from the firm in December 2008. Michael Bignell heads the firm's transfer pricing practice. The firm's tax services include corporate tax, indirect taxes, international tax, R&D, M&A and transfer pricing.

The firms client base includes most of New Zealand's largest companies, who they have advised on transactions, deals and disputes. They have recently won two new clients who are among the top taxpayers in New Zealand. The firm has been appointed to train the New Zealand Inland Revenue.

Competitors have underlined PricewaterhouseCoopers as having one of the largest tax practices within Singapore. International taxation is a focus for the firm with Chinese, Indian and Malaysian desks operating out of Singapore.The firm is providing tax ... [more]

Competitors have underlined PricewaterhouseCoopers as having one of the largest tax practices within Singapore. International taxation is a focus for the firm with Chinese, Indian and Malaysian desks operating out of Singapore.

The firm is providing tax advisory services to a regional telecommunications multinational on the integration of its new acquisitions. This involves structuring contracting models that will be operationally tax efficient. It has also assisted a multinational in the food and beverage sector with its structuring and implementation of a regional entrepreneur model for franchising business, including advising on intellectual property migration and negotiating for tax incentives.

Samil PricewaterhouseCoopers has, according to peers, long been a key player in the Korean market. The firm covers a wide range of tax areas but has recently placed a specific emphasis on transfer pricing as an area for continued development. The firm ... [more]

Samil PricewaterhouseCoopers has, according to peers, long been a key player in the Korean market. The firm covers a wide range of tax areas but has recently placed a specific emphasis on transfer pricing as an area for continued development. The firm now boasts 50 specialists in total working across the firm's three transfer pricing groups; general transfer pricing, financial services transfer pricing and transfer pricing for Japanese multinationals. Henry An is recognised as one of the country's leading transfer pricing specialists.

The firm maintains a strong leadership presence in the Korean tax community, with partners occupying leadership positions in the American Chamber of Commerce (Henry An), EU Chamber of Commerce (Joong-Hyun Lee), and the International Fiscal Association (David Jin-Young Lee).

The firm already had a track record for hiring former government officials, and it seems this trend has continued over the past 12 months. Man-Young Kim was brought in as a director from the NTS.

David Jin-Young Lee and Shin-Jong Kang worked together on a deal that had a large impact on the country's variable life insurance industry. During a tax audit, the NTS issued a pre-assessment worth $100 million on valuation gains on securities of a leading foreign-invested insurance company. The firm overturned the ruling and that decision had a ripple effect across the industry worth around $2 billion.

Dong-Keon Lee represented a client, a foreign invested company, that was exempt from customs duties and VAT on imported capital goods with respect to investments to manufacture goods in a foreign investment zone. Following the decision to cease trading in Korea, the NTS tried to claw back these tax exemptions. However, Lee successfully prevented the authorities from reclaiming any of them. This was the first successful attempt to prevent claw back.

Although the downturn has hit the market hard in Taiwan, PricewaterhouseCoopers has appointed three new partners. Wendy Chiu and Elaine Hsieh have been promoted from director and focus on transfer pricing and M&A respectively. Philine Lee was poached ... [more]

Although the downturn has hit the market hard in Taiwan, PricewaterhouseCoopers has appointed three new partners. Wendy Chiu and Elaine Hsieh have been promoted from director and focus on transfer pricing and M&A respectively. Philine Lee was poached from rivals Ernst & Young and works within the firm's international tax department.

Lily Hsu worked tirelessly last year and managed to overturn a court ruling on input VAT deductibility for an international airline regarding crew lodging expenses in Taiwan. The tax authorities claimed that the crew was on the payroll of the branch's headquarters and thus the expenses were distinct from the operations of the Taiwan branch. The firm overturned this ruling and it has consequently saved the airline industry large amounts of tax and penalties.

Financial services expert Richard Watanabe is well-respected by his peers and regularly represents clients in transfer pricing work.