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Initial Public Offering (IPO) and Special Purpose Acquisition Company (SPAC) are particularly popular across globe in recent years. Regulatory bodies and Stock Exchange would request IPO applicants to appoint tax advisors to issue an opinion on their global tax risk and disclose the risk in the prospectus.

Very often, private entities may not have handled their tax compliance issues properly and expose themselves into significant amount of tax risk. Rectification of their error and Mitigation of tax risk is one of important areas in the Pre-IPO stage.

Below are some of the common areas IPO applicants should be aware of:-

  • Group restructuring to turn the existing structure into IPO-friendly structure (e.g., VIE Structure for Chinese Enterprises restricted for foreigners ownership);
  • Transfer pricing risk and transfer pricing documentation compliance;
  • Hong Kong and the PRC Permanent Establishment risk;
  • Amendment of tax filing due to adjust adjustments made by reporting accountant;
  • PRC Individual Income Tax / Hong Kong Salaries Tax Reporting of Directors and Top Management; and
  • Rectification of prior years’ Tax Dispute with the tax authorities (e.g., the Inland Revenue Department)


How can we help?

  • Act as your tax consultants to identify any tax risk and rectify it to satisfy the demand of the authorities; and
  • Act as your tax advisors to issue written opinion to provide comments on the tax status

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