Recently, our firm's counsel, Lawrence Hu, has received an interview by China Law and Practice ("CLP") regarding the latest circular of How To Determine the Beneficial Ownership. Beneficial Ownership is a long-disputable concept in the international tax arena, which puzzles the multinational companies in their cross-border investment. As an experienced tax lawyer, Lawrence identified positive points of this circular and also, through his deep practical experience, pointed out certain areas that still need to be clarified by the tax authority and even the foreign exchange authority. Finally, he gives practical advices with the effectiveness of this circular.
By the way, Lawrence Hu was invited by CLP to write a cover story titled VAT Revolution (appeared in Issue 4) and has been a tax expert from whom CLP mainly seek professional opinions.China Law & Practice and is re-published with the kind permission of its editors.