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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

Introduction: As the nation’s consumption level continues to rise and automobiles become more prevalent, disputes related to automobile purchases have been on the rise. Invoking Article 55 of the Law of the People’s Republic of China on the Protection of Consumer Rights and Interests, some consumers have called for operators to be held accountable for

The People's Bank of China and the State Administration Financial Supervision and Administration Bureau issued a notice on Monday July,10th, which extends the applicable period mentioned in the previously announced 16 financial policies to support the real estate market to December 31st 2024. The relevant person in charge of the People's Bank of China stated

According to the Municipal Civil Affairs Bureau, a series of noteworthy policy adjustments will take place in Shanghai from this month onwards. Within this article we will summarize the adjustments as follows: I. Adjustment of the minimum wage from July 1st, 2023 Shanghai will adjust the minimum wage standard from July 1st, 2023. The monthly

In China, Social Insurance (also called social security) is a mandatory government system, and comprises of five different kinds of insurance: pension, medical, maternity, work-related injury, and unemployment; in addition to these, there is also a Housing Fund, which only employees of Chinese nationality are required to contribute. However, foreign employees working in China must

Introduction As a company’s strategic business activity, a merger or an acquisition is often used for leapfrogging competition, business transformation or performance improvement. It improves the asset structure and reallocates resources to free up more capacity and improve operational efficiency; Therefore, through mergers and acquisitions, companies are afforded the possibility to expand their business at

In order to reduce the discharge of major pollutants and effectively control environmental risks, the State Administration of Taxation recently issued the "Guidelines for Tax and Fee Preferential Policies in Support of Green Development" which implements preferential tax policies and promotes high-quality development. Let's take a look at some of the main content together： （1）

A non-resident enterprise is an enterprise that is established and actually managed in a jurisdiction other than in the People's Republic of China, which has an office or premises established in China or which has income derived from China despite not having an office or premises in the country. China has recently been optimizing the

There have been several notable tax developments in China up until May 2023, today, let's have a closer look at some of the most notable. 1. The 14th National People's Congress’ Tax-related proposals At the first session of the 14th National People's Congress on the 13th of March 2023, the National Economic and Social Development

There have been several notable tax developments in China up until May 2023, today, let's have a closer look at some of the most notable: 1. The 14th National People's Congress’ Tax-related proposals At the first session of the 14th National People's Congress on the 13th of March 2023, the National Economic and Social Development

The government of the United Arab Emirates (hereinafter referred to as UAE), through their Ministry of Finance, has announced three new Ministerial Decisions which will have the effect of exempting UAE-based entities with direct investments in foreign companies from Corporate Tax. The decisions further clarify the definition of consolidated financial statements for the purpose of

Introduction On January 5th, 2023, in the midst of the downturn of the second-hand housing market, six Departments of Shenzhen Government jointly issued The Notice of Work Program on Promoting the "Transfer with Mortgage" Model for Second-Hand Houses transaction in Shenzhen ([2023] No.1, Real Estate Construction of Shenzhen Government). Within the so-called "transfer with mortgage"