Wed, 07/01/2009 - 14:23
Chinese energy companies face growing uncertainty over tax liabilities - KPMG partner
by Terry Wang
China's rising energy demand and rapid development of its energy industry has brought about new tax complications for local companies and their overseas partners, according to Steven Tseng, KPMG partner and head of China and Asia-Pacific global transfer pricing services.
China has already become the world's fourth-largest country in terms of installed wind power capacity, but whenever new technologies are developing, a lot of difficult tax issues will be involved.
- Steven Tseng, KPMG partner and head of China and Asia-Pacific global transferring pricing services
Shanghai. July 1. INTERFAX-CHINA - Tax liabilities are an increasing concern among Chinese energy companies as China becomes more dependent on imported crude oil, cooperation with foreign companies becomes the norm and the country's renewable energy industry continues to develop, a partner at a leading tax, audit and advisory firm told Interfax.
