Live Stream Transcript: Overseas Income Tax Declaration for Individuals Entering the Countdown Under CRS (2026)

Huashui hosted a live stream titled Tax Risks and Compliance Recommendations for Chinese Residents’ Overseas Income under the CRS Framework from 14:30 to 15:30 on June 5, 2026. The live stream reviewed the origin of CRS, explained the operating mechanism of CRS 1.0 and its impacts on China in light of the latest developments, analyzed tax risks faced by Chinese tax residents with overseas income, prospected updates under CRS 2.0 and relevant overseas legislative progress, and put forward targeted compliance suggestions for overseas income taxation.

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Hwuason Law Firm Wins CBLJ 2026 China Tax Law Firm of the Year Award

On 28 May 2026, China Business Law Journal (CBLJ), a leading Asian legal media outlet, announced the winners of its 2026 China Business Law Awards, recognising Chinese and international law firms that delivered outstanding performance in the Chinese legal market over the past year.

Hwuason Law Firm has been named the 2026 China Tax Law Firm of the Year. Since 2015, Hwuason has consistently earned this distinction through its exceptional track record and premier reputation in China’s domestic tax law services market, making 2026 the twelfth consecutive year the firm has received the CBLJ China Tax Law Firm of the Year honour.

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“Regulations on Filing and Review of Regulations and Rules” Lays the Cornerstone for the Modern Tax Law System

Since the Third Plenary Session of the 18th Central Committee of the Communist Party of China, China has accelerated the legislative process for tax law and has established a relatively complete tax law system. However, owing to the complexity and professionalism of tax collection and administration, as well as disparities in economic development levels across different regions, there remain certain mismatches among laws and regulations, departmental rules, local regulations, and the vast body of tax normative documents. In 2024, the State Council comprehensively revised the Regulations on Filing of Regulations and Rules promulgated in 2001, introducing the Regulations on Filing and Review of Regulations and Rules (hereinafter referred to as "the Regulations"), which officially took effect on November 1. The Regulations enhance supervision over rules and local regulations, and are of great significance for maintaining the unity of the tax legal system and advancing the modernization of tax rule of law.

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Hwuason Law Firm and Lawyer Liu Tianyong Ranked in Band 1 of LEGALBAND China Top Law Firms and Lawyers Rankings 2026 in Taxation Field

On April 21, 2026, LEGALBAND, an internationally renowned legal media, released the 2026 China Client Guide, announcing the 2026 China Top Law Firms Ranking and 2026 China Top Lawyers Ranking. Hwuason Law Firm was honored to be listed in Band 1 (First Tier) of the 2026 China Top Law Firms Ranking in the taxation field, and Lawyer Liu Tianyong, Managing Partner of Hwuason, was also ranked in Band 1 of the 2026 China Top Lawyers Ranking in the same field. Since 2017, both Hwuason Law Firm and Lawyer Liu Tianyong have successively won this dual honor of Band 1 in the taxation field of these rankings for ten consecutive years.

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Summary of the Seminar on the Transformation of Tax Crime Governance in the New Era and Launch Ceremony of Criminal Trial Reference: Special Issue on the Punishment of Crimes Against Tax Collection an

On the morning of March 21, 2026, the Seminar on the Transformation of Tax Crime Governance in the New Era, coupled with the official launch of Criminal Trial Reference: Special Issue on the Punishment of Crimes Against Tax Collection and Administration, was successfully convened at the China University of Political Science and Law (CUPL). Co-hosted by CUPL’s Research Center for Fiscal and Tax Law and organized by HuaShui Law Firm, the event centered on the reform of tax crime governance in the new era alongside the release of the specialized publication dedicated to the judicial practice of handling crimes against tax collection and administration. It brought together leading experts, scholars and practitioners from the judiciary, academia, tax authorities and related sectors, who held in-depth discussions, exchanged insights and built consensus around the landmark cases and judicial experience compiled in the new publication, injecting new perspectives and momentum into the advancement of tax crime governance in China.

The conference was moderated by Professor Shi Zhengwen, Director of CUPL’s Research Center for Fiscal and Tax Law. Distinguished guests who attended and delivered opening remarks include: Zhou Guangquan, Vice Chairperson of the Constitution and Law Committee of the National People's Congress; Lin Zhinong, Editor-in-Chief of the People's Court Press; Dong Baojun, Deputy Chief Judge of the No.4 Criminal Tribunal of the Supreme People's Court (SPC); Liu Jianwen, President of the Fiscal Law Society of the China Law Society; and Liu Yanhong, Vice President of CUPL.

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Hwuason Law Firm Nominated for “Best Tax Law Firm” at the 2026 LEGALBAND China Law Awards

On March 23, 2026, LEGALBAND, a renowned legal rating agency, released the nominations for the 2026 China Law Awards. Hwuason Law Firm received the nomination for “Best Tax Law Firm of the Year” at the 2026 LEGALBAND China Law Awards, owing to its outstanding performance in the Chinese tax law service market and excellent client reputation.

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Hwuason Law Firm and Lawyer Liu Tianyong have been ranked Band 1 in the 2026 China Tax categories for law firms and lawyers in the Chambers Greater China Region Guide 2026.

On January 15, 2026, Chambers and Partners, a globally authoritative legal rating agency, released the Chambers Greater China Guide 2026. Hwuason Law Firm once again secured a spot in Band 1 for China Tax Law Firms in the 2026 edition of the guide. Meanwhile, Lawyer Liu Tianyong, Managing Partner of Hwuason Law Firm, also retained his position in Band 1 for China Tax Lawyers in 2026. Additionally, Lawyer Wang Qiang, Partner of Hwuason Law Firm, was named to the Up and Coming list for China Tax Law in 2026.

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Hwuason Law Firm Ranked as a Leading China Tax Law Firm in Legal 500 Greater China 2026 Rankings

On November 19, 2025, the internationally renowned legal rating agency Legal 500 officially released its "Greater China 2026 Rankings." Hwuason Law Firm was honored to be listed as a Leading China Tax Law Firm in the Legal 500 Greater China 2026 Rankings.

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Huashui Achieved Outstanding Results in the "National Tax Agent Industry Professional Competence Competition" Hosted by CCTAA.

To gain a deeper understanding of the guiding principles from the Party's 20th National Congress and its second and third plenary sessions, and to fully implement the important guidance of President Xi Jinping on talent-related work, China Certified Tax Agents Association (hereinafter referred to as CCTAA) held the National Tax Agent Industry Professional Competence Competition in August 2025. The individual competition was divided into three stages: preliminary, semi-final, and final, with the difficulty of questions progressively increasing. The competition focused on evaluating participants' comprehensive abilities, foundational knowledge of tax laws, case analysis skills, and capability to handle complex issues.

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Hwuason Law Firm Designated as China University of Political Science and Law’s 2025 University-Level Exemplary Joint Graduate Training Base

On November 6, 2025, the Graduate School of China University of Political Science and Law announced on its official website that the "Hwuason Law Firm Joint Training Base," established in collaboration with the university’s Civil, Commercial, and Economic Law School, has been selected as a 2025 university-level exemplary joint training base for professional degree graduates in law.

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