| Tax and Business Advisory Services |
We offer a broad range of tax advisory services depending on the client’s specific circumstances and financial objectives. We provide a comprehensive tax support from the basic filing for tax returns to clearance with local tax authorities, structuring tax for corporate headquarters or regional operations, and advising corporate senior executives or high net worth individuals on their tax planning.
As a rule, we appreciate each client’s assignment is unique in its requirements. Take a business start-up as an example, we will recommend the most tax efficient structure and vehicle that suits the client’s immediate set up needs with a view to growth in the future. In the case of other market transactions such as merger, acquisition or listings, we can work with the client to design an optimal tax strategy to ensure the client’s financial interest is being protected. Throughout the course of the M&A transactions, we will provide due diligence review for buyers and vendors, formulate appropriate deal models, tax planning for holding and operational structures, exit planning, tax efficient financing arrangements, tax incentive planning, and review of draft agreements. When it comes to inter-company transactions, we will conduct financial modelling in order to analyze the tax effects of specific financial activity such as inter-company pricing policies which will have an impact on the client’s bottom line.
For our China clients, we perform feasibility study and “health check” on foreign-invested projects from China’s regulatory and tax perspective, to identify major non-compliance areas and advise rectification measures to minimize risk. We advise them on corporate restructuring through share transfers, transfers of businesses, mergers, divisions, and reorganizations of capital structures and assist in processing the necessary application and approval complying with statutory requirements.
We will be involved in drafting or reviewing joint venture contracts and articles of associations, assisting in the application for the establishment, annual examination, deregistration of foreign investment enterprises and representative offices, preparation and filing of statutory tax returns, and handling tax audit, including negotiation with tax authorities in-charge.
In ventures relating to real estate development, we advise on tax planning policies with a view to minimize Land Appreciation Tax, Urban Real Estate Tax and Foreign Enterprise Income Tax liabilities. For import and export areas, we identify major non-compliance areas and advise on improvement for cost saving and tax efficiency, especially on how to carry out processing trade, like its type and locality selection and treatment of scraps of bonded materials etc. In the human resources area, we provide tax advisory on employees’ compensation packages from preparing and distributing payroll, preparing and filing of Individual Income Tax (“IIT”) returns as well as assisting in the application for work permit, residency permit and Z Visa for expatriates. We also provide advice on China’s IIT for tax efficiency purposes.
With regards to capital retrieval under foreign exchange control, we advise on feasible channels for remittance, documents and procedures required for remittance, assistance in application for foreign exchange registration and opening foreign exchange bank account, assistance in application for tax payment certificates as well as tax exemption certificates for remittance purposes etc. Our goal is to provide our clients with the available options and recommend the most tax efficient solutions.