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Tax

Overview

Allbright tax team is highly renowned in the field of tax law, and has won Top ranked Tax Law from Chambers Asia Pacific every year from 2016 until now.

 

Both the headquarters and local branches of Allbright Law have senior partners, partners and tax lawyers, who have been practicing tax law for many years, and have accumulated extensive experience and resources.

 

All of Allbright’s tax lawyers are graduates from law/accounting schools in China and overseas, and most of them possess cross industry qualifications. For instance, besides being lawyers, most of them are also certified tax agents, certified public accountants, or other types of accountants.

 

Many tax lawyers are now, or were formerly, engaged in teaching and research of tax law in universities, or have practiced in accounting firms, international law firms, or tax authorities.

 

Several tax lawyers have served as members of the Finance and Taxation Committee of the Bar Association, at both state level and local level, or directors of Finance and Taxation Law Research Association of China Law Society.

 

Our China team also has established foreign consultants engaged in the provision of cross-border legal services with extensive experience of cross-border transactions.

 

Our clients encompass a broad spectrum of industries, from traditional industries such as manufacturing, banking, construction, trade and pharmaceuticals to modern industries such as fintech, telecoms and gaming. Many of these companies have a substantial global presence and are some of the most well-known Chinese brands.

 

We understand the business and market, analyze and handle those affairs from different professional perspectives, and have the ability to design and implement package deals that not only meet the overall business objectives, but also minimize the tax costs in the operation.

 

 

We offer a broad spectrum of services, including but not limited to the following:

1. Carrying out due diligence and risk assessments related to tax.

2. Assisting clients with daily tax management.

3. Carrying out the qualitative analysis on legal issues of complex transactions.

4. Carrying out the legal qualitative analysis on tax issues of complex transactions.

5. Conducting comprehensive compliance planning for the transaction (including legal issues and tax issues).

6. Giving opinions and suggestions on tax issues of complex transactions, and communicating and negotiating with tax authorities.

7. Assisting in drafting, reviewing, and revising the tax related provisions of legal documents related to transaction.

8. Providing tax advice on tax related matters.

9. Assisting in drafting, reviewing, and revising relevant administrative legal documents related to tax.

10. Assisting clients to deal with tax audit.

11. Conducting tax related administrative reconsideration on behalf of clients.

12. Conducting tax related civil proceedings on behalf of clients.

13. Conducting tax related administrative proceedings on behalf of clients.

14. Conducting tax related criminal proceedings on behalf of clients.

 

1        Securities and Capital Markets

The Allbright tax team supports clients by tracking market dynamics and significant changes in regulations of securities and capital market. We work with clients to adapt to the new environment and stay competitive.

 

We design tax solutions for clients' financing activities for business restructuring, and M&A transactions (including equity transactions, asset transactions, splits and mergers, etc.) with the aim of concluding the goal in the most tax efficient manner. We design a forward-looking tax framework for the entry, holding and withdrawal of capital.

 

We offer a broad spectrum of services, including but not limited to the following:

1. Providing compliance consultation on pre financing tax issues.

2. Providing tax consultation and advice for the equity incentive scheme of enterprises, assisting enterprises to choose appropriate equity incentive methods, arranging channels for entry and exit, and assisting enterprises with accounting and tax treatment.

3. Making tax arrangements for individuals to invest assets in exchange of shares and helping individuals to declare and file deferred taxes.

4. Carrying out global property allocation plan, family property protection plan and wealth inheritance arrangement for the actual controller of the enterprise to reasonably reduce the global actual tax burden of family property.

5. Designing the solutions to achieve the desired equity structure before and after financing, comprehensively analyzing the tax results and the tax policies that can be applied to each solution, and reducing the tax cost of equity restructuring as far as possible, by methods including equity acquisition, asset acquisition, merger, separation, asset transfer, etc.

6. Demonstrating the legality and feasibility of the special tax treatment for restructuring, prepare files, communicate with tax authorities and assist enterprises in accounting and tax treatment at the same time.

7. Providing assistance for enterprises in dealing with transactions to which a special tax treatment is applicable such as the transfer or disposal of certain assets.

8. Providing tax consultation for the joint-stock reform of enterprises.

9. Improving the tax structure of the subject to be listed under the red-chip structure.

 

2        Banking and Finance

The Allbright tax team provides compliance consultation services to various financial institutions and gives advice on a wide range of financial products including public offering of stocks and bonds, M&A finance, real estate finance, asset backed finance, project finance and derivatives.

 

We focus on the development of cross-border finance. Through our partner agencies overseas, we also advise on effect of the extraterritorial tax regulations such as EU directives and also FATCA.

 

We offer a broad spectrum of services, including but not limited to the following:

1. Providing tax-related legal analysis, tax compliance and consultation services for various financial products.

2. Providing tax compliance and tax planning services for the establishment, financing, investment, exit and cancellation of various fund companies and products.

3. Providing tax consultation for the establishment and operation of overseas funds, so that clients can obtain tax preferences under tax treaties and meet the non-tax requirements of relevant jurisdictions.

4. Providing tax solutions for various innovative financial products of enterprises.

5. Providing compliance consultation on CRS to financial institutions.

6. Providing tax compliance and tax planning services for the disposal of distressed assets.

7. Providing matching tax advisory services to financial institutions when they are providing wealth management services to their clients.

 

3        Corporate and M&A

Tax has become an important issue in complex corporate transactions. The legal framework adopted by enterprises has an extremely important impact on tax costs.

 

The Allbright tax team has extensive professional knowledge and project experience. We can help customers to understand the complicated tax regulations related to corporate transaction, and seek solutions which are tax-efficient, commercially operable and in line with the specific objectives of clients.

 

Throughout the whole process from conducting due diligence, negotiations, financing, drafting contracts to the final stages of the transaction, our emphasis is always offering our clients the most cost-efficient solution.

 

We work with our internal award-winning M&A team to escort the completion of various transactions via accurate grasp of different policy. In addition, our global network allows us to put together a team that can deal with multi-jurisdictional complex tax issues. We provide tax strategies for M&A, restructuring, listing, liquidation, sale and distribution of equity or other assets. Our goal is always to provide a full service to our clients for their tax and non-tax needs.

 

Our outstanding advantage is to help customers determine the transaction structure. This framework will comprehensively consider a series of factors such as accounting, taxation and follow-up operation, so as to ensure the completion of the transaction and bring maximum tax benefits to clients.

 

We offer a broad spectrum of services, including but not limited to the following:

1. Providing tax legal analysis for the daily business affairs of the enterprise, including VAT, corporate income tax, withholding policy, etc.

2. Providing tax consultation for cross-border receipts and payments (such as royalties, technology transfer fees, consulting fees) and on questions like how to fully enjoy the tax preferences under the tax treaties.

3. Providing tax consultation for enterprise employment (such as overseas employment and salary arrangement of foreign employees).

4. Providing tax consultation and suggestions for the equity incentive scheme of enterprises, help enterprises choose appropriate equity incentive methods, arrange channels for entry and exit, and assist enterprises with accounting and tax treatment.

5. Making tax forecast for major decisions of enterprises, seeking better tax solutions while achieving the business purpose of enterprises.

6. Providing planning scheme for clients’ merger and reorganization (including cross-border merger and reorganization). We provide more paths for clients to achieve their purpose, comprehensively analyze the tax results of each path and the applicable tax policies, and reduce the tax cost of merger and reorganization as far as possible by combining equity acquisition, asset acquisition, merger, spin-off, asset transfer and other means together.

7. Demonstrating the legality and feasibility of the special tax treatment for restructuring, prepare files, communicate with tax authorities and assist enterprises in accounting and tax treatment at the same time.

8. Providing assistance for enterprises in dealing with transactions to which a special tax treatment is applicable such as the transfer or disposal of certain assets.

9. Providing tax consultation services for the reform of enterprise into stock companies.

10. Improving the tax structure of the subject to be listed under the red-chip structure.

11. Providing compliance consultation on the left-over tax issues.

12. Making tax arrangements for individuals to invest assets in exchange of shares and help individuals to declare and file deferred taxes.

13. Carrying out global property allocation plan, family property protection plan and wealth inheritance arrangement for the actual controller of the enterprise to reasonably reduce the global actual tax burden of family property.

 

4        International Trade

With the growing globalization of the world economy, international trade has become increasingly important and is often the driving force of the national economy. As part of this change, tariffs have become an important means for governments to regulate commerce.

 

The Allbright tax team focuses on the policy and development of domestic and foreign free trade ports, as well as regional tax policy and its changes. As a result, we can arrange the transaction structure, mode and subject, and assist enterprises to reasonably arrange the enterprise transaction process to fully utilize tax options.

 

We provide assistance on tariffs and provide suggestions for the standardized management of tariff declaration by enterprises.

 

We focus on China's latest tariff policies and regional economic development policies, and help enterprises make good use of tariff policies to gain competitive advantages.

 

We offer a broad spectrum of services, including but not limited to the following:

1. Providing internal training about the key points of tariff and declaration rules are easily ignored.

2. Recommending free trade zones for enterprises to operate according to the business scope of enterprises, to make good use of relevant policies of regional economy.

3. Helping the enterprise make corresponding adjustments to postpone or reduce the tariff, based on the business model of the enterprise and the tariff policies of different free trade zones.

4. Helping enterprises to establish management systems of VAT related to export business, so as to fill in the data and submit documents accurately.

5. Providing suggestions on the application of tax reduction and exemption policies for imported equipment.

6. Providing compliance consultation for foreign exchange write off of payable/ receivable accounts during overseas trades, so as to avoid the risk of being listed in risk control list of tax authority due to failure to write off in time.

7. Providing strategic and technical support for enterprises to deal with tariff inspection.

 

5        Real Estate and Construction

The Allbright tax team provides advice on the tax and non-tax issues to all types of real estate business. Backed by our rich experience in this field, we can make full use of various tax policies related to real estate and provide comprehensive services through the whole process of the business, including financing, acquisition, development, leasing and sale of properties, according to the client’s needs and actual situation.

 

We are always at the forefront of tax planning in this field. We can delve into the legal provisions and explore client’s needs, design various transaction structures, and reduce the tax burden to the greatest extent.

 

Clients benefit from our knowledge and experience in structuring complex real estate transactions. we will explore all tax structures related to financing, acquisition, development, leasing and sale of properties.

 

Our real estate tax planning service is not limited to real estate developers and investors. We regularly represent large companies with respect to the tax planning for corporate-owned real estate. Indeed, some of the most important tax planning that any corporate tax director should be considering involves corporate-owned real estate, which will frequently be a valuable asset that does not produce a great return-on-equity. Planning to monetize such assets in a tax-efficient manner is something from which every corporation can derive benefit.

 

We offer a broad spectrum of services, including but not limited to the following:

1. Assisting real estate enterprises to carry out land appreciation tax liquidation management, effectively collect and calculate the deductibles items of appreciation amount, review whether the deductibles items meet the liquidation requirements and whether they are reasonably apportioned, to avoid the risk of non-compliance.

2. Assisting enterprises to declare land appreciation tax, including preparing liquidation application, tax declaration form, statements for completion of projects, etc.

3. Providing advice on the land appreciation tax, value-added tax, corporate income tax and other special matters such as joint operation, cooperative housing, real estate exchange and agent construction.

4. Providing tax consultation on real estate transfer in the process of equity transfer, merger, division, asset transfer, M&A of asset.

5. Providing tax planning for the real estate transfer of enterprises, and comprehensively use merger, separation, asset transfer and other schemes to achieve the purpose of business operation and reduce the tax burden.

6. Providing tax legal analysis and advice on REITs.

7. Providing tax solution and legal advice for the M&A of real estate companies.

 

6        Cross-border Investment

The Allbright tax team has extensive experience with cross-border investment. We can offer tax-related service for both inbound and outbound investment.

 

We also have foreign consultants so we can closely coordinate domestic and international tax affairs and provide a package deal. Throughout the whole process of cross-border investment, including structuring start-up operations, disposal of assets, following operation and exit, we will deliver the solution that is best suited to clients’ needs and circumstances.

 

We stay abreast of current tax law changes and tax planning opportunities around the world through frequent communication with correspondent tax specialists who have a strategic relationship with us.

 

We offer a broad spectrum of services, including but not limited to the following:

1. Helping overseas enterprises choose the registration place and legal subject in China, and structure start-up operations which fully using regional economic policies, local government subsidies, industrial policies and tax policies among different entities, so as to reduce the operational tax burden.

2. Helping domestic enterprises achieve their "go global" strategy and designing the tax structure for their global business, especially in Hong Kong, Singapore, the European Union and the United States.

3. Helping clients design the structure of their cross-border operation and management, so as to maximize the loss caused by foreign sales and manufacturing, and minimize the tax of transferring asset to foreign countries. In addition, we provide professional advice on how to delay the tax on income from abroad which need to be paid in China.

4. Helping our clients design the remittance structure of capital and profit to minimize the global tax burden. Our tax planning methods include outsourcing production, cross-border leasing, improving intercompany pricing policies and royalty payments, and adjusting foreign income to make full use of foreign deductions.

5. Providing advice on how to use the funds of related foreign entities while minimizing the global tax burden. We provide advice on the establishment of SPV’s, such as currency trading and hedging centers. We also provide advice on international financing issues, including international leasing, international financing (such as parallel loans, back-to-back loans) and other methods to facilitate cross-border transfer of funds at the lowest cost and maximum flexibility.

6. Designing the most tax-saving structure for cross-border acquisition (or disposal), conduct pre-acquisition tax due diligence, assist in acquisition financing. Issues that we typically give advice on include which method of acquisition is the best (e.g., equity acquisition or asset acquisition), what kind of entity is most suitable, where the entity should be set, etc. We also provide professional advice on the realignment and optimization of overseas entities owned by acquired companies after acquisition.

7. Helping clients judge whether their equity transfer of foreign enterprises will be regarded as indirect transfer of assets of a Chinese resident enterprise (e.g., equity). If they meet the certain standard, we will assist the enterprise to prepare the materials which need to be submitted to Chinese tax authorities, so as to avoid the penalty or interest caused by offending the Chinese tax regulations.

8. Providing tax consultation and tax compliance services on how to apply the tax treaties between the relevant countries for the dividend obtained from cross-border investment.

 

7        Maritime

With the development of maritime economy and industry, multi-modal transportation and logistics, tax service related to maritime has also been expanding to deeper and more extensive fields, especially shipping finance, shipping insurance, logistics, marine projects, marine resources development, etc.

 

The Allbright tax team focuses on the development of international marine transportation and marine resources development industry, and provides tax services for ocean shipping enterprises, logistics enterprises, marine engineering enterprises and warehousing enterprises.

 

We offer a broad spectrum of services, including but not limited to the following:

1. Providing tax compliance and tax consultation services for marine transportation enterprises on value-added tax and corporate income tax.

2. Providing tax consultation services for domestic and foreign enterprises engaged in international transportation business, including whether the maritime transportation agreements or treaties signed between China and relevant countries, Double Taxation Agreement, etc. are applicable.

3. Providing tax compliance and tax consultation services for ship chartering business.

4. Providing tax compliance and tax consultation services for non-resident enterprises engaged in international transportation business on application of relevant tax law, tax calculation, declaration and payment.

5. Providing advice on of accounting treatment and tax treatment for ship financial leasing business.

6. Providing advice on where and how to pay taxes on the income of mariners of ocean shipping.

7. Providing tax advice for freight forwarders.

8. Providing tax compliance and consultation services for the sale, financing, investment and asset restructuring of ships.

 

8        Bankruptcy Liquidation and Reorganization

The Allbright tax team can give practical advice which take the needs of all parties involved into consideration, including investors, shareholders, debtors and creditors as both individuals and corporate entities (e.g., financial institutions, insurance institutions etc.) through the whole process of liquidation and reorganization.

 

We make tax forecasts on various restructuring schemes, asset disposal, debt disposal and other transactions, balance the interests of all parties, seek better solutions, and promote consensus among all parties from the perspective of taxation.

 

We offer a broad spectrum of services, including but not limited to the following:

1. Assisting the bankruptcy administrator to formulate the reorganization plan which takes into account the tax interests of all parties, so as to promote the consensus among all parties.

2. Providing suggestions on accounting treatment and tax treatment for debt-for-equity swap or debt restructuring in the process of bankruptcy reorganization, and coordinating creditors and debtors when special tax treatment is applicable.

3. Seeking diversified solutions according to the demands of all parties, and conducting arrangement for the tax benefits of actual controllers and venture investors, to encourage them to actively participate in the reorganization.

4. Providing tax planning services in the process of asset disposal, so that bankrupt enterprises can obtain more funds to pay off debts.

5. Providing tax training related to bankruptcy reorganization for creditors and debtors to prevent the subsequent compliance risks.

6. Providing tax advice on asset disposal, debt liquidation and distribution of surplus property in the process of liquidation.

 

9        Intellectual Property

Intellectual property is also a heated field of tax related services.

 

The Allbright tax team focuses on the fields of technology transfer and technology development and the related technical consulting and technical services, closely follows the policy orientation, makes full use of tax preferential policies, and helps enterprises invest in R&D.

 

We pay close attention to the development and policy trends of encouraging industries such as software and culture industries, and help enterprises understand the latest tax policies and how to apply them.

 

We focus on the reform of new business forms and new transaction modes in the field of intellectual property and seek tax solutions.

 

We focus on the tax related to cross-border licensing and sale of IP rights as the global withholding tax regime on royalty payments created under the existing network of bilateral tax treaties can vary between jurisdictions, and some jurisdictions set preferential tax rates for companies specializing in the development or exploitation of IP. We delve into relevant tax regulations of IP to help clients avoid risks and reduce tax burden.

 

We offer a broad spectrum of services, including but not limited to the following:

1. Evaluating whether the enterprise meets the standards of preferential tax policies set for qualified high-tech enterprises, software enterprises, advanced technology service enterprises and other specific enterprise. If those policies are applicable, then we can assist enterprises to prepare materials to obtain these qualifications, and provide continuous services for annual qualification check.

2. Helping enterprises to collect R&D expenses effectively and make additional deduction in accordance with tax laws and policies, including expenses of commissioned R&D, expenses of projects which has formed or not formed into intangible assets.

3. Designing the holding structure of intangible assets and intellectual property rights of the group company which can better meet their tax and business operational needs.

4. Providing tax consultation and assist enterprises to prepare relevant materials for transfer or exclusive license of technology or other intangible assets to help enterprises enjoy tax exemption or deduction.

5. Assisting enterprises to prepare relevant filing or declaration materials to enjoy the exemption of value-added tax on technology transfer and technology development and the related technical consulting and technical services.

6. Providing tax consultation for enterprises' cross-border receipts and payments (such as royalties, technology transfer fees, consulting fees) to ensure enterprises enjoy the tax preferences under the tax treaties.

 

10     Transfer pricing

The Allbright transfer pricing team is comprised of tax lawyers, litigators, CPAs, economists, financial analysts etc., and work with an extensive network of external institutions. Our expertise ranges from planning, documentation and interaction with other tax and legal issues to negotiations with (international) tax authorities and dispute resolution. We can consider transfer pricing issues with other tax and legal issues to provide better solutions.

 

We can help our clients develop transfer pricing policies and deliver innovative and commercially pragmatic advice to help optimize transactions among your business units. Unlike consultants or accounting firms, we are litigators as well as trusted tax advisers and can also negotiate and draft all legal documents relating to transfer pricing and prepare documentation to justify transfer pricing policies. We can anticipate and prevent risks which others tend to overlook.

 

We offer a broad spectrum of services, including but not limited to the following:

1. Assisting enterprises to prepare "Annual Report on Transactions between Enterprises in the People's Republic of China with Their Associates", to avoid fines caused by overdue or improper declaration.

2. Assisting enterprises to establish compliance records and keep contemporaneous documentation in case of investigation by tax authorities.

3. Assisting enterprises to apply for advance pricing arrangements, select appropriate computation methods, prepare documents, negotiate with tax authorities, and offer continuous service in the future.

4. Helping enterprises to make cost-sharing agreements among related parties, selecting computation methods, drawing up cost-sharing agreements, and preparing relevant materials.

5. Providing compliance suggestions for the capital arrangement among related parties, so as to control the debt-to-equity ratio and avoid the loss caused by the excess interest which cannot be deducted before tax.

6. Making advance planning, compliance declaration and continuous implementation of transfer pricing to reduce the cost of being investigated by the tax authority.

 

11     Matrimonial and Family & Wealth Management

As well as corporate clients, the Allbright tax team also has a large number of high-net-worth individuals for whom we provide tax services related to family and wealth management matters.

 

We design global asset allocation schemes, family property protection plans and wealth inheritance arrangements for clients according to their personal needs and actual circumstances, to reasonably reduce the actual global tax burden on family assets.

 

We offer a broad spectrum of services, including but not limited to the following:

1. Analyzing and advising on the tax resident identity of individual clients and provide suggestions on how to change it.

2. Designing or improving the global wealth allocation scheme for high-net-worth individuals to reasonably reduce the actual global tax burden of family property, including where to locate the assets, how to manage them, and the best way to both invest and exit.

3. Using financial or non-financial instruments such as wills, insurance and trusts to ensure the wealth heritage and risk isolation.

4. Setting up trust subjects overseas to ensure the security and flexibility of clients’ assets and carry out comprehensive tax planning.

5. Providing consultation services for clients' immigration needs, including how to choose the place, how to make time planning, and how to transform tax resident identity smoothly.

6. Analyzing how the Standard for Automatic Exchange of Financial Account Information and Common Reporting Standard (CRS) will apply to clients’ overseas assets, and giving suggestions on how to make arrangement ahead to reduce the risks.

 

12     Labor and social security

Personnel are the most valuable assets of an enterprise. The tax compliance of human resources and the tax issues related to employee incentives are essential to all enterprises. The Allbright tax team focuses on the needs of employers and helps to establish a sophisticated tax risk prevention system of human resources.

 

In the context of globalization, the cross-border flow of talents and cross-border labor services bring new compliance challenges. We have extensive experience in tax issues related to cross-border labor services.

 

We offer a broad spectrum of services, including but not limited to the following:

1. Providing tax compliance services for human resource departments on how to fulfill withholding individual income tax obligations.

2. Providing tax consultation and advice for the employee incentive schemes of enterprises, assisting enterprises to choose appropriate equity incentive methods, arranging channels for entry and exit, and assisting enterprises with accounting and tax treatment.

3. Providing tax consultation service for overseas employment issues of "Going-out" enterprise.

4. Providing tax consultation services for the payment of foreign employees and senior managers of enterprises.

5. Providing tax compliance services for the tax compliance of labor-dispatching units.

 

13     Dispute Resolution

The Allbright tax team provides preliminary suggestions to clients in the field where disputes frequently happen such as corporate income tax, individual income tax, real estate tax, value-added tax and overseas tax credit, assists clients in negotiating with tax authorities, and reviewing the decisions of tax authorities.

 

Our extensive experience has taught us that every dispute is unique and so we approach each dispute on its own particular issues and identify a tailor-made solution. In addition, our decades of experience has also allowed us to forge excellent working relationships with tax authorities throughout China, which allows us to quickly identify the key issues and also the key decision makers, thereby creating a cost effective solution for the client.

 

We offer a broad spectrum of services, including but not limited to the following:

1. Providing solutions to tax disputes, including analyzing case, designing scheme and negotiation strategy, preparing materials.

2. Dealing with tax inspection and assist clients to communicate with tax authorities properly.

3. Acting on behalf of clients in civil litigation, criminal litigation and administrative litigation related to tax, like tax payment, invoice and other issues.

4. Acting on behalf of clients in communicating and negotiating with tax authorities.

 

 

14     Internet and Information Technology

The fast pace of technological progress has resulted in the development of the digital economy where the internet and information technology have had an unprecedented impact on commercial operations.

 

By conducting in-depth research on business models and industrial policies in these fields such as virtual property, big data, blockchain, artificial intelligence, etc., the Allbright tax team maintains an understanding of developing trends. As such we are able to help enterprises solve emerging tax problems.

 

At the same time, we focus on developing taxation trends for the digital economy and help companies plan for changes.

 

We offer a broad spectrum of services, including but not limited to the following:

1. Helping internet-based enterprises choose the registration place and legal form in China, and structure start-up operations utilizing all available assistance such as  regional economic policies, local government subsidies, industrial policies and tax policies among different forms, to achieve the most efficient tax structure.

2. Helping cross-border internet-based enterprises design their transaction structure in terms of operation and management.

3. Providing tax consultation for internet-based enterprises’ financing and M&A projects.

4. Providing tax consultation for the domestic and overseas structure for blockchain projects.

5. Helping enterprises understand the tax policies enjoyed by the software industry and relevant industries, and providing related tax compliance and consultation services.

6. Focusing on taxation trends within the digital economy, helping enterprises cope with relevant tax risks.