I was on a panel of speakers yesterday at the Offshore Investment Conference 2011. We panelists were to give a statement enunciating "the one key point" from the talks we had given earlier in the day. Yongjun Peter Ni, who heads Zhong Lun's tax practice, said something about how foreign companies need to abide by China's tax laws because China is now very serious about enforcing them. My first thought when he said that was "absolutely" and my second thought was that this is becoming true of all the laws that apply to foreign companies.
In the last few years, corporate taxes in China have assumed pretty much the same level of significance for Western companies as in their home countries. China's increased emphasis on maintaining transfer pricing controls is a salient example of this.
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