Hwuason Law Firm Lawyers Liu Tianyong and Zhang Qian Interviewed by ZHONGGUO SHUIWU BAO on Tax-Related Risks and Compliance Advice for Non-ferrous Metals Industry

Non-ferrous metals are important basic raw materials for electronics, aviation, automobiles, construction and other fields, and play an important role in economic construction, national defense construction and social development. In the field of taxation, in recent years, the non-ferrous metal industry tax-related cases occur frequently, non-ferrous metal purchase and sale, transportation and other aspects of the tax risk is more and more prominent. In March this year, the Supreme People's Court and the Supreme People's Procuratorate also mentioned at the press conference on judicial interpretation and typical cases of tax-related crimes that the precious metal industry is a high incidence area of fraudulent tax crimes. Under the supervisory situation of eight departments of the country jointly combating tax-related crimes, the tax compliance management of non-ferrous metal enterprises should not be delayed. Recently, Hwuason Law Firm Liu Tianyong and Zhang Qian were interviewed by China Taxation News on the common tax-related risks and compliance management of non-ferrous metal industry, and analyzed the "false VAT invoices", "supplier sales without invoices" and "invoiced sales" in the non-ferrous metal industry. It analyzes the causes of three common tax-related risks in the non-ferrous metal industry, namely, "false VAT invoicing", "sales by suppliers without invoices" and "invoicing party escaping and losing contact", and puts forward suggestions for prevention and response. The full text is as follows:

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Liu Tianyong and Ge Hailin from Huashui Group were elected as members of the specialized committees of the 7th China Certified Tax Agents Association.

Recently, the China Certified Tax Agents Association (hereinafter referred to as "CCTAA") issued the "Notice on Adjusting the Organizational Structure and Personnel Composition of the Specialized Committees" (CCTAA Secretarial Issuance [2024] No. 24). After deliberation by the second office meeting of the seventh council of CCTAA, it was decided to adjust the organizational structure and personnel composition of the specialized committees of CCTAA, consolidating the current eight specialized committees into six, including: Business Development Committee, Governance and Regulatory Committee, Education and Training Committee, Cultural Promotion Committee, Digital Construction Committee, and International Development Committee. A total of 88 individuals were elected as members of the new committee.

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Hwuason Law Firm Lawyers Liu Tianyong and Zhang Qian Interviewed by ZHONGGUO SHUIWU BAO on Tax-Related Risks and Compliance Advice for Resources Recycling Industry

Recycling of renewable resources is a key link in the comprehensive utilization of resources, which is of great significance in promoting the development of circular economy and realizing green, low-carbon and high-quality development. For a long time, the lack of "source invoices" has been restricting the development of the resources recycling industry. In order to make up for the shortfall of input items and obtain compliant pre-tax deduction vouchers for enterprise income tax, some of the recycling enterprises have obtained VAT invoices by changing their business model, seeking third-party issuance or even purchasing them, which has led to frequent tax-related risks. In recent years, in order to promote the sustainable development of resources recycling industry, the Ministry of Finance and the State Administration of Taxation (SAT) have issued a series of policies, and the much-anticipated "reverse invoicing" policy has also been put into practice, which requires renewable resources enterprises to pay attention to the tax-related risks in adjusting their business model. Hwuason Law Firm has issued compliance reports on tax-related issues in the resources recycling industry for many consecutive years, and continues to pay attention to the latest tax regulatory situation and corporate compliance management in the recycling industry. Recently, Hwuason Law Firm attorneys Liu Tianyong and Zhang Qian were interviewed by China Tax News on the common tax-related risks in resources recycling industry and the compliance suggestions of enterprises.

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Mr. Liu Tianyong and Mr. Jiang Zhenghe of Hwuason Law Firm expressed their opinions on the tax-related risks of pharmaceutical enterprises and published in China Tax Newspaper

For a long time, the pharmaceutical industry has had problems such as long drug research and development cycles, excessive research and development costs and sales expenses, and high pressure on and slow recovery of enterprise funds, and some pharmaceutical enterprises have been able to extract funds by means of false invoices in order to obtain profits. In addition, on July 10, 2023, the National Health Commission, together with several ministries and commissions, deployed a one-year centralized rectification of corruption in the national pharmaceutical field, which set off a storm of anti-corruption in the pharmaceutical industry and led to a number of cases of false invoicing and tax evasion. The pharmaceutical industry has been a key area of concern for HuaShui for a long time, and HuaShui has issued tax compliance reports on the pharmaceutical industry for many years in a row. Recently, Mr. Liu Tianyong and Mr. Jiang Zhenghe of Hwuason Law Firm commented on the common tax-related risks in the pharmaceutical industry and made suggestions on corporate compliance. The relevant content was published in China Tax Newspaper. The full text is as follows:

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Hwuason Law Firm and Lawyer Liu Tianyong ranks as first tier law firm and lawyer in the tax field of the 2024 LEGALBAND China Top Ranked Law Firms & Lawyers

On April 16, 2024, the internationally renowned legal media LEGALBAND released the 2024 China Client’s Guide, which contain the 2024 China Top Ranked Law Firms and 2024 China Top Ranked Lawyers. Hwuason Law Firm has been listed as the first tier law firm in the tax field of the 2024 China Top Ranked Law Firms, and Lawyer Liu Tianyong has been listed as the first tier lawyer in the tax field of the 2024 China Top Ranked Lawyers. Since 2017, Hwuason Law Firm has been selected as the top tier in the tax field for eight consecutive years.

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Hwuason Law Firm Liu Tianyong and Zhang Qian Interviewed by ZHONGGUO SHUIWU BAO on Tax-Related Risks and Compliance Suggestions in Coal Industry and Published Article

China Coal Industry Association recently released the 2023 Annual Report on the Development of the Coal Industry, which shows that last year China's raw coal production was 4.71 billion tons, up 3.4% year-on-year, a record high. As China's basic energy source, coal occupies an important strategic position in the national economy. In the field of taxation, the tax-related risks of the coal industry present the characteristics of multiple taxes and links, and the problems of false opening and tax evasion in the operation process of coal enterprises are highlighted, hampering the healthy and sustainable development of the coal industry. Recently, the Supreme People's Court and the Supreme People's Procuratorate mentioned at the press conference on judicial interpretation of tax-related crimes and typical cases that the coal industry is a high incidence area of the crime of fraudulent tax evasion. Under the regulatory trend of eight departments across the country jointly combating tax-related crimes, the issue of tax compliance for coal enterprises cannot be delayed. Since 2021, Hwuason Law Firm has been launching tax compliance reports on coal industry, paying continuous attention to the latest regulatory situation and enterprise tax-related risks in coal industry. Recently, Liu Tianyong and Zhang Qian were interviewed by ZHONGGUO SHUIWU BAO on the common tax-related risks in the coal industry and the compliance suggestions of the enterprises, analyzing the tax-related risks of the coal enterprises in the purchasing, selling, processing, and transfer of equity, and discussing the causes of the risks and the suggestions to cope with them. In addition, based on the many tax-related risks in the coal industry, Liu Tianyong published an article titled "Coal Enterprises Should Transform, Tax Compliance", which puts forward tax-related risk prevention and control suggestions for coal enterprises in four aspects, namely, standardizing business processes, perfecting the management system, strengthening the internal control team, and regularly checking the risks. The full text is as follows.

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Hwuason Law Firm Lawyer Liu Tianyong Interviewed by Xinhua Finance on "Reverse Invoicing" of Recycling Enterprises

The orderly operation of the resources recycling industry is of great significance to improve the level of resource recycling, enhance the ability of resource security, and promote green, low-carbon and recycling development. For a long time, the lack of "source invoices" has been troubling enterprises in the resources recycling industry. In order to make up for the shortfall of VAT inputs and obtain compliant pre-tax deduction vouchers for enterprise income tax, some enterprises obtain VAT invoices by changing their business model, seeking third-party issuance or even purchasing them, which entails a lot of tax-related risks. Recently, the State Administration of Taxation (SAT) convened a seminar for industry associations and enterprises related to the promotion of large-scale equipment renewal and consumer goods trade-in, and made it clear that by the end of April, the "reverse invoicing" of resource recycling enterprises will be realized, so as to further smooth the VAT deduction chain and give resource recycling enterprises standardized and legal pre-tax deduction vouchers for enterprise income tax. Hwuason Law Firm has long been concerned about the tax issues and enterprise tax risks in the field of resources recycling industry. On the issue of "reverse invoicing", Hwuason Law Firm's director, Mr. Liu Tianyong, was interviewed by Hwuason Law Firm, who analyzed the causes of the invoicing dilemma of the resources recycling industry at the source, and further analyzed the principle and circumstances of "reverse invoicing". and further analyzes the principle and situation of "reverse invoicing", the full text is as follows.

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Hwuason Law Firm Liu Tianyong and Jiang Zhenghe Interviewed by ZHONGGUO SHUIWU BAO on Tax-Related Risks and Compliance Advice in Foreign Trade Industry and Published Article

In recent years, China's foreign trade industry has continued to run smoothly, and in the first two months of this year, China's foreign trade grew by 8.7% year-on-year, realizing a good start. However, with the steady development of foreign trade exports accompanied by fraudulent export tax rebates and other illegal and criminal behavior is common. In order to protect the orderly development of the foreign trade industry and standardize the order of export tax rebates, tax, public security and other departments have continued to crack down on illegal and criminal acts of cheating export tax rebates in a high-pressure situation. Since 2021, Hwuason Law Firm has been launching tax compliance reports on foreign trade industry, paying continuous attention to the latest tax regulatory situation and enterprise tax-related risks in foreign trade industry. Recently, Hwuason Law Firm Liu Tianyong and Jiang Zhenghe were interviewed by ZHONGGUO SHUIWU BAO on the common tax cheating behaviors in the foreign trade industry and the compliance suggestions of enterprises, analyzing the operation methods of using silver and other precious metal products to cheat tax, falsely opening VAT invoices for agricultural products to cheat tax, and using high-tech products to cheat tax. Based on the many tax-related risks in the foreign trade industry, Liu Tianyong published an article entitled "Building a "Firewall" for Risk Control", which puts forward tax-related risk prevention and control suggestions for foreign trade enterprises in three aspects: prevention beforehand, assessment during the process, and response afterward.

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Registration for the "2024 National Top Ten Excellent Tax Law Case Papers" Selection Activity Opens on the 13th

In order to encourage lawyers, tax practitioners, scholars, postgraduates and other tax-related people to actively carry out tax law case studies, explain the law in case law, and improve the level of practice, law enforcement and research, the Professional Committee of Finance and Taxation Law of the All-China Lawyers' Association hosted the "National Top Ten Excellent Tax Law Case Papers" in 2019-2023. The selection of papers has caused a strong reaction and resonance in tax-related service organizations, tax authorities, colleges and universities, and research institutes, etc. The 40 awarded "National Top Ten Excellent Tax Law Case Papers" have been compiled into the "China Tax Lawyer's Review" (Volume 7-10), and published by Law Press, which plays a positive role in spreading the concept of the rule of law on tax and implementing the rule of tax according to law. They have played a positive role in spreading the concept of the rule of law in taxation and implementing the rule of law in taxation. In order to continue to support and encourage the theoretical and practical research on tax law in China, the "2024 National Top Ten Excellent Tax Law Case Papers" competition is scheduled to start on 13 March 2024, with the following specific requirements

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Hwuason lawyer Liu Tianyong was accepted Chambers' exclusive invitation to write the article "Greater China Region Guide 2024 - China's Tax Law Reforms 2024"

On January 18, 2024, Chambers and Partners, the world's leading legal media, released the “Greater China Region Guide 2024”,Mr. Liu Tianyong, the director of Hwuason Law Firm, was honored to be listed as one of the Band 1 in China's tax law. Mr. Liu Tianyong has been listed in the Chambers Asia Pacific Legal Guide and Greater China Region Guide as one of the top lawyers in China's tax law for more than ten consecutive years since 2010.

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