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On October 26th, 2022, the Ministry of Human Resources and Social Security, the Ministry of Finance, the State Administration of Taxation, the China Banking and Insurance Regulatory Commission and the China Securities Regulatory Commission jointly issued the Implementing Measures of Personal Pension (No. 70, MOHRSS [2022], hereinafter referred to as the “Implementing Measures”), which is

The President of the UAE, H.H. Sheikh Mohamed Bin Zayed Al Nahyan has issued the Federal Decree-Law No. (18) of 2022 also known as the “Amendment of VAT Law” to amend certain provisions of the Federal Decree-Law No. 8 of 2022 on Value Added Tax (hereinafter referred to as the “VAT Law”), which will become

Under the influence of the seemingly everlasting pandemic, companies in China that suffer business difficulties may consider seeking suspension of business operations so as to save costs for an interim period, rather than entering a liquidation procedure. In order to support business activities in such sensitive periods of time, the Chinese government has issued regulations

Currently, Vietnam is one of the most upwardly trending countries for companies interested in expanding their business internationally. The country's economy keeps growing, driven by Free Trade Agreements (FTAs) as well as being improved from an increasingly regulated business environment. Even after Covid-19, despite being targeted with one of the harshest lockdowns in its history,

In order to improve the Consumption Tax system and better guiding healthy consumption, the Ministry of Finance, the General Administration of Customs and the General Administration of Taxation issued the Announcement on the Levy of Consumption Tax on Electronic Cigarettes from November 1st, clarifying that there will be a new sub-category created for electronic cigarettes

According to the Announcement of the State Administration of Taxation of the Ministry of Finance No. 8 of 2022 "The Continuation of the Implementation of Tax Preferential Policies for Some National Commodity Reserves", Shanghai will implement preferential tax policies for enterprises operating on commodity reserve stockpiling from January 1st, 2022 to December 31st, 2023. In

From October 14th, 2022, the UAE Ministry of Finance has made changes to the excise regulations, aimed at minimizing tax avoidance, easing obligations and supporting business. Five years since its establishment, the “Federal Decree-Law n.7 of 2017 on Excise Tax” has finally been updated. The notable amendment made to the Law is the introduction of

If a company intends to CANCEL (解除) or TERMINATE (终止) a labor relationship with certain employees, the company may have to consider the right approach to cancel/terminate. Furthermore, the company may also be concerned about whether it needs to pay severance and how to calculate such severance. According to the PRC Labor Contract Law, whether

India and the United Arab Emirates (UAE) intend to increase bilateral trade turnover to USD 100 billion in the next five years. This was announced on Friday, September 2nd by the Indian Foreign Ministry following a meeting of the joint Indian-Emirati commission in the UAE with the participation of foreign ministers of the two states

In order to support the innovative development of high-tech enterprises and promote the renewal of equipment and technological upgrading of enterprises, China's Ministry of Finance, State Administration of Taxation and Ministry of Science and Technology have jointly made a decision to support pre-tax deductions for scientific and technological innovation and issued relevant enterprise income tax

The National Medical Insurance Administration issued the "Notice on Interim Delaying Payment of Company Partition of Basic Staff Medical Insurance " (Yi Bao Fa [2022] No. 21), and local governments e.g., Shanghai government issued the " Notice on Interim Delaying Payment of Employee Basic Medical Insurance". (Hu Yi Bao Gui [2022] No. 5), for eligible

The Foreign Investment Law (“FDI law”) has been effective since 2020 which has replaced the previous 3 foreign investment related laws and become the new milestone for foreign investment management trends in China. Foreign-invested companies in China have been experiencing a transitional period and may have adopted certain changes to follow the new rules. The