When the PwC Global Tax Symposium - Asia 2011 began yesterday, it marked a return to where it started eight years ago in Shanghai.

"We are returning to Shanghai because this is a very special city where many of our clients are based. Our first Asian tax symposium was held here in 2004," said Cassie Wong, PwC regional tax leader, Asia Pacific.

With participants that include tax directors from multinational companies, senior officials from regulatory bodies and tax advisors from PwC's global network, the marquee event is held each year in Europe, the United States and Asia with different topical themes for each region.

"Most of our clients expect their operations to grow in Asia, with China considered the most important. As a global business, PwC uses every opportunity to connect with our clients and our people on the ground."

The global financial crisis has transformed taxation. Governments face challenges securing more revenue from taxes while at the same time trying to stimulate economies.

"Globally, a number of new trends are emerging, including an increasing focus on indirect taxation, higher personal income taxes and stricter enforcement of transfer pricing rules matched by increased anti-avoidance legislation," said Colm Kelly, PwC Global Tax Strategy and Markets leader.

Wong noted that in Asia "there are some trends that are different, such as individual income tax rebates and reduction in some jurisdictions, which aim to alleviate the tax burden and stimulate the economy".

Increased complexity and uncertainty in the tax environment has made taxation a high profile issue that needs to be addressed by the boards of companies at a strategic level.

Globalization and expansion of business brings about more cross-border issues and challenges that tax directors face. Transfer pricing is one of the greatest challenges and an area in which PwC has a great deal of strength.

Tax directors need to ensure that their organizations are tax compliant in all the territories in which they operate. "Being a leading tax advisor means having the scale and capability in all regions. It also means being very strong locally, having expertise in every territory, and being able to deliver coordinated services in a cross-border manner," Kelly said.

"PwC prides itself on a tax practice of over 40,000 specialists globally and more than 6,000 in Asia."

Wong noted that PwC "stays close to our clients, making sure we understand their business needs and we put ourselves in their shoes".

"During our global tax symposium you'll be able to see much of that, Wong said. "We also make sure that we have the best caliber of people at all levels. Our people and deep capabilities differentiate us and make PwC distinctive."

According to independent surveys, PwC is the leading provider of tax services worldwide with the strongest overall reputation for tax advice globally. It has consistently been recognized as the top tax firm in Asia.