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To conscientiously implement the deployment of the Central Economic Work Conference, effectively safeguard the legitimate rights and interests of taxpayers, and help taxpayers smoothly and normatively complete the comprehensive income settlement and payment of individual income tax for the year 2023, the State Administration of Taxation has announced the specific content of the comprehensive income

The Ministry of Finance (MOF), State Taxation Administration (STA), and the National Development and Reform Commission (NDRC) have revised their “Catalogue to encourage industries to engage the foreign investment and the Catalogue for Guiding Industry Restructuring in Hainan province”, which came into effect on March 1st, 2024. In general, the policy's main goal is to

China Extends Visa-Free Entry for 12 Countries Until End of 2025 Chinese President Xi Jinping announced during the closing ceremony of the Sixth Meeting of the China-France Business Council that China has decided to extend the short-stay visa exemption policy for citizens of 12 countries, including France, Germany, Italy, the Netherlands, Spain, Belgium and Luxemburg,

Save the date: from June 26th to June 28th, 2024, The EU-ASEAN Business Council announced a physical mission trip to Hanoi, Vietnam in collaboration with EuroCham Vietnam. Registered delegates will get the opportunity to meet with the important Ministries & Government Agencies. In 2019, the European Union and Vietnam signed the EU-Vietnam Free Trade Agreement

China has recently taken significant steps to strengthen its tax system, focusing on enhancing tax certainty and enforcing tax laws more effectively. These measures aim to create a better business environment for both domestic and foreign companies. One of the notable initiatives is the inauguration of China’s first specialized tax tribunal in Shanghai, located within

In the global fight against money laundering and the financing of terrorist activities, governments worldwide are adopting more stringent measures to enhance transparency and companies’ financial internal control. These efforts aim to create a regulatory framework that discourages illicit financial activities and fosters transparent business practices. Recent developments in beneficial ownership reporting highlight this commitment,

Launched in March 2024, the New Capital Investment Entrant Scheme (New CIES) represents a strategic initiative by the Hong Kong government to attract foreign investment and foster its position as a global financial hub. This innovative program is part of a broader effort explained in the 2023-2024 Budget and the Policy Statement on Cultivating Family

Tax filing for outbound payments is a critical regulatory requirement in China for high-value international transactions, overseen by the State Taxation Administration (STA) and the State Administration of Foreign Exchange (SAFE). This measure is designed to monitor and regulate the flow of foreign exchange out of the country and ensure the compliance of these transactions

From the 2024-25 Assessment Year, a pivotal income tax change mandates that corporations settle their outstanding invoices with micro, small, and medium enterprise (MSME) vendors within 45 days, a move set to reshape fiscal strategies across India's corporate landscape. This regulation, incorporated as Clause (H) in Section 43B of the Income Tax Act of 1961

Registration in AIRE (Registry of Italians Residing Abroad) is not a determining factor to exclude fiscal residency in Italy for an individual when there are precise and concordant indications suggesting that this person has their habitual residence or domicile in Italy. This principle has been affirmed by various jurisprudential orientations, including a ruling from the

On December 29, 2023, the Seventh Meeting of the Standing Committee of the Fourteenth National People's Congress passed the newly amended Company Law ("New Company Law"), which will become effective on July 1, 2024. Notably, Article 47 of the New Law provides that "the contributed capital of all shareholders shall be paid in full by

Vietnam, a rising star in the global economy, has recently implemented several significant changes to its tax policies, aiming to both stimulate economic growth and align with international tax standards. These modifications are crucial for foreign firms operating in the country to understand and adapt to. Let’s delve into the key alterations that have come