Tax

The landscape in which businesses operate in the modern day is dynamic. The instances of cross-border transactions have increased as a result of rapid globalisation. Multinational companies are further exposed to regulatory scrutiny across the jurisdictions in which they operate. In particular, companies engaged in cross-border transactions will be monitored by the tax authorities in their respective operating areas. Thus, reducing the potential tax risk incurred by multinational companies during their operations is becoming an imperative and important issue.

Against the background of a continuous rise in the number of Foreign Investment Enterprises in China, the Chinese authorities are strengthening their regulatory efforts in order to enforce tax, foreign exchange and customs functions to ensure due compliance by all companies operating in China. Domestic investors from China are concurrently investing hard and fast on a global scale. The future trend of an increasingly stringent tax regulatory environment in China is to be expected.

The Organisation for Economic Cooperation and Development (OECD) and the European Union are leading the way in setting up various worldwide tax frameworks such as measures against harmful tax practices and Base Erosion and Profit Shifting (BEPS) 2.0 project which have introduced significant challenges for global tax mechanism. Hong Kong is one of the jurisdictions which is reviewing its existing tax system to reshape its tax regulations to cope with latest international tax requirements.

An efficient operating structure combined with adequate tax compliance and proper planning is therefore a fundamental necessity for enterprises operating across borders. Efficient tax and structural planning can increase operating efficiency and enhance business effectiveness for achieving their reasonable commercial purpose.

Multinational enterprises and individuals should take immediate actions to understand and evaluate the impact on their tax burden and business operations. It is advisable for them to take proactive steps in accordance with new tax requirements so as to avoid potential non-compliance issues which might attract penalty and/or bear unnecessary tax burden.

Our diverse practical experience in providing tax compliance, planning and advisory services can proficiently provide tax effective and reasonable solutions to business transactions of all kinds. Our global network has been ranked top one of the top 10 accounting networks in the world, we are able to provide comprehensive international tax services through our extensive group of member firms.

Our senior professionals comprising of qualified accountants and tax practitioners have specialised knowledge and experience in a wide variety of business sectors. We are here to provide effective solutions to our clients' needs.