Ernst & Young strengthens operations
1 February 2003
International accounting group Ernst & Young has moved several of its top tax advisors from its Hong Kong office to head its tax offices in Beijing and Shanghai, South China Morning Post reported. The company said that it would also bring in experts from Europe and the US to lead an expansion of its China tax team.
Demand for tax services has been growing, not only from foreign firms setting up in China after its accession to the WTO, but also from existing companies that are reaching the end of their tax exemption period given as an incentive for start-ups. The tax authorities have also recently stepped up efforts to crack down on tax evasion.
