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O’Melveny’s Sussman Quoted in Law.com on China R&D Tax RuleNovember 30, 2015 O’Melveny & Myers partner Larry Sussman was quoted in the November 17, 2015, Law.com piece “R&D Tax Breaks Ease Corporate Burdens.” The article details China’s newly issued rules that simplify R&D accounting for companies and significantly increase the scope of deductible expenses, in order to encourage more research and innovation in the country. Sussman told the publication that, while the old regime focused on what the specific R&D activity was and whether requirements were met, the government has flipped the system upside down. “Now as long as you aren’t on the negative list, anything related to R&D is completely deductible,” he said in the article.
Sussman is managing partner of O'Melveny's Beijing office, regional head of transactions for Asia, and a member of the Firm's China Practice, Tax Practice, and Investment Funds Practice.