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The Ministry of Finance and the State Administration of Taxation have recently introduced a series of tax policies to provide fiscal advantages to financial institutions supporting Small and Micro Enterprises and companies investing in R&D. The first grants an exemption from value-added tax (VAT) in China on interest income generated from such loans provided by

When it comes to multinational business operations, Transfer Pricing (TP) arrangements are important aspects of taxation for this kind of company. These arrangements involve Chinese subsidiaries making royalty and license fee payments to their foreign parent companies. While the primary concern in TP compliance activities is typically tax implications, there's a critical factor that is

Introduction In India, the authority to levy taxes is derived from the Constitution, allocating this power to both the Central and State governments. All taxes are regulated by appropriate legislation passed by either the Parliament or the State Legislature. India's taxes are classified primarily into two categories: direct and indirect taxes. a) Direct Taxes: Direct

On September 1st of 2023, the much-anticipated "Company Law of the People's Republic of China (Third Review Draft)" (also known as the “Review Draft of Company Law”) was reviewed by the Fifth Session of the Standing Committee of the 14th National People’s Congress and was made available for public comment. The Review Draft of the

A recent meeting of the Political Bureau of the CPC Central Committee said that China will continue to implement a proactive fiscal policy, continue and implement tax and fee reduction policies, and vigorously support scientific and technological innovation, the development of the real economy and the development of micro, small and medium-sized enterprises. Here's the

To maintain and enhance the proactive fiscal policies, the State Council and various departments have announced their commitment to increasing macro-policy support by continuing and optimizing phased tax and incentives, including several individual income tax-related preferential policies. In this article, we will summarize these policies as follows: • Renewal of the Implementation of the Preferential

In order to further optimize the Chinese foreign investment environment and attract more foreign investment, China's State Council has issued “The Opinions of the State Council on Further Optimizing the Foreign Investment Environment and Intensifying Efforts to Attract Foreign Investment” (the “Opinions”). These 24 guidelines provide clear directives and policies to local governments to increase

The "Stamp Tax Law of the People's Republic of China" (hereinafter referred to as the "Stamp Tax Law" or the “new Law”) has been implemented for the first anniversary! From July 1, 2022, the "Stamp Tax Law" came into effect, with the promulgation of this law, China now has laws established for 12 out of

In order to further support the development of small and micro enterprises and individual industrial and commercial enterprises, the State Administration of Taxation issued preferential policies to improve their business environment on August 2nd, 2023. From January 1st, 2023 to December 31st, 2027, the individual income tax levied shall be halved on the part of

An Annual Corporate Income Tax filing is one of the most important activities in corporate finance. As when certain costs exceed the tax deduction limit for the year, the balance of deduction or credit can be carried forward to the following few years, we shall hereby list the main situations which this occurs according to

According to Shen Weihua, Deputy Director of Shanghai Municipal Commission of Commerce, "Accelerating the development of cross-border e-commerce and exhibition economy is an important task to cultivate new dynamic energy of the business economy, expand the new path of high-quality development of the business, and strengthen the function of global resource allocation, and enhance the

After the official start date of June 1st, 2023, Corporate Tax (CT) in the United Arab Emirates (UAE) has come into effect. For companies starting their financial year after this date and ending on May 31st, 2024, their first tax return filing will be at the end of this year; for those starting on January