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Prime Minister Narendra Modi initially mentioned Amrit Kaal during the 75th Independence Day festivities in 2021 stating that the major goal of Amrit Kaal is to minimize economic inequities among Indian residents, bridging the development gap between villages and cities, make India more technically adaptable, and lessen reliance on the government. The Union Budget for

In recent years, the Chinese government has stepped up the protection of intellectual property rights. However, the transgression conduct still prevails, especially the trademark infringement behavior. Many businesses still use the trademarks that others have already registred to operate and publicize, and maliciously make use of others' trademarks that already have certain influence in the

In order to clarify some value-added tax (VAT) incentives for 2023, the China’s Ministry of Finance (MOF) and the State Taxation Administration (STA) jointly issued an announcement which specifies some changes regarding the VAT exemption policy for small-scale VAT taxpayers and the additional VAT deduction policy for taxpayers in the production and lifestyle services industry.

1. Which Enterprises Need an Annual Financial Audit? In China, auditing is performed by certified public accountants (CPA) to provide assurance that a company’s financial statements accurately reflect its financial position. In the following section we list the companies which are required to undergo an annual audit: • One-person limited liability company • Foreign-invested enterprises

As an emerging foreign trade format, the cross-border e-commerce industry has achieved explosive development during the pandemic and has become an important force in China's export trade. However, since 2021, China's cross-border e-commerce sellers have begun to encounter "Ban Waves" and overseas intellectual property "hunting", with leading enterprises, promising upstarts, cross-border e-commerce listed companies and

Hong Kong is one of Asia's finest jurisdictions for international corporations managing assets and investments in the area. The city is geographically well-located, tax efficient, hosts one of the world's largest financial centers, has a robust legal framework, and relies on a skilled workforce. At the end of 2021, Hong Kong was included on the

Medical Insurance is one of the five compulsory insurance schemes of the Chinese Social Security System (the remaining four include: Pension Fund, Work Injury Insurance, Unemployment Insurance and Maternity Insurance). In China, medical insurance is required to be paid by both – the employer as well as the employees on a monthly basis and in

On December 30th, 2022, China Ministry of Finance and the State Administration of Taxation (STA) issued the Announcement No. 38 of 2022, which stipulates that from the date of this announcement to December 31st, 2023, taxpayers producing and selling civil jet aircraft with an unladen weight greater than 25 tons shall be implemented in accordance

The Income Tax Return (ITR) is the form used in India to file information about a taxpayer’s income and tax payables to the Income Tax Department. In cases in which the return shows that excess tax has been paid during a year, then the individual will be eligible to receive an income tax refund. According

Under the influence of the seemingly everlasting pandemic, quite a few companies in China intend to seek suspension of operations so as to save costs while still surviving. In order to support business activities in such sensitive period of time, the Chinese government has issued regulations and guidelines that enable companies to transfer to dormant

Lawmakers in UAE have made significant updates in the country’s tax system this year. Following the recent amendments on the VAT Law, now with the Federal Decree-Law No. 47 of 2022 (also known as the “Corporate Tax Law”) new changes are implemented in the taxation of corporations and companies. Thereon, companies will become subject to

In order to support the development of the New Energy Vehicle Industry and promote auto consumption in China, the Ministry of Finance (MOF), the State Taxation Administration (STA), and the Ministry of Industry and Information Technology (MIIT) jointly released the Announcement on Continuing Tax Exemption on Purchases of New Energy Vehicles (hereinafter referred to as