(1888PressRelease)
October 26, 2009 - Hwuason Managing Partner, Liu Tianyong was invited by Taxpayers’ club in Tianjin to provide a keynote address on Contemporaneous Documentation Preparation requirements under China’s transfer pricing provisions. The lecture was attended by over 40 member companies including Boeing, Coca-Cola, FAW, Toyota, etc.
Mr Liu lectured on the principles of transfer pricing and outlined the requirements and procedures under China’s tax law. Mr Liu commented that “China’s transfer pricing regulations are complex but with the proper guidance companies should be able to fully comply with their obligations. The key is to be prepared and not leave anything to the last minute”.
Upon the request of the tax authorities, enterprises that are required to prepare contemporaneous document for related party transactions occurring during 2008, will need to comply with a December 31 2009 deadline, which means the countdown has begun.
About Hwuason. Hwuason Lawyers was the first specialist tax law firm in China. A commitment to combining tax and legal services distinguishes Hwuason from other tax advisors. The firm offer clients an alternative to the 'big 4' accounting firms, both in terms of costs and the breadth of services provided, which includes M&A, tax controversy, cross-border and general tax.
For more information about Hwuason see: www.hwuason.com
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