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Vietnam |  21 September 2022

Vietnamese Authorities Signal Further Support to the Local Economy

At the conference on maintaining macroeconomic stability, managing inflation, stimulating growth and ensuring a balanced economy, which took place on September 12th, 2022, the Vietnamese Prime Minister Pham Minh Chinh indicated that despite the current global economic downturn, Vietnam will act in an attempt to come up with ways to stabilize and improve the domestic

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Italy |  8 September 2022

Italy: Subsidies for Industry 4.0 (2022-2025)

Industry 4.0 has been at the centre of economic transformation for a number of years, and together with related technologies has proven to be fundamental in countering the pandemic crisis as well as acting especially useful in assisting companies in the process of technological innovation and environmental sustainability. In Italy, a government plan was launched

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China |  31 August 2022

China: Exemption of Legal Aid Grants from VAT and Personal Tax

Introduction The enactment of a PRC Legal Aid Law is due to serve the urgent need to improve the judicial protection system for human rights, a necessary requirement to ensure that legal aid work is carried out in a standardized and orderly manner and that all assistance should be provided, with an important legal system

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China |  23 August 2022

China Strengthens Anti-Monopoly Supervision and Compliance Requirements

Introduction Since its implementation in 2008, Anti-Monopoly Law of the People's Republic of China (“Anti-Monopoly Law”) has produced positive effects in regulating monopolistic conduct and the market competition order, as well as protecting the rights and interests of consumers. However, in recent years, with the rapid development of the digital economy and artificial intelligence, many

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China |  18 August 2022

China’s Export Tax Refund Policy: The Most Recent Updates

In order to promote the sustained and stable development of foreign trade and to help exporters alleviate difficulties, ten Chinese Authorities Including the STA have further increased support for export tax rebate policies, including new management measures to promote electronic filing of export tax rebate documents and optimize foreign exchange management. In this article, we

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UAE |  12 August 2022

Advantages for Foreign Investors to Obtain a Golden Visa in the UAE

Introduction: It is no secret that the UAE has been attracting investors and foreign talent throughout recent decades. With this in mind, in 2019, the UAE government has announced the golden visa program for wealthy or highly skilled foreign nationals to remain legally in the country and ensure the future of their families and their

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India |  10 August 2022

India: Promising GST & PMI Data in July for Foreign Investors

In July 2022, India's monthly goods and services tax (GST) collection has seen the second highest result ever. Furthermore, in July, manufacturing activity reached an eight-month high. These factors have been encouraging for investors in India as the economic recovery has seen strong momentum while the interest rates were raised. Several other indicators which include

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news |  4 August 2022

Guidelines for Preferential Tax Policies to Support Green Development

To facilitate the comprehensive green transformation of economic and social development and implement the sustainable development strategy, China has introduced a series of preferential tax and fee policies to support green development. To this end, the State Administration of Taxation has issued the Guidelines on Preferential Tax and Fee Policies for Supporting Green Development (hereinafter

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China |  26 July 2022

Merger of Domestic Enterprises by Foreign Investors in China

The merger of a company shall be divided into two forms: consolidation by merger and merger by incorporation. Consolidation by merger shall refer to the circumstance where one company absorbs another or others and remains in existence while the absorbed company/companies dissolve. Merger by incorporation shall refer to the circumstance where two or more companies

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Vietnam |  19 July 2022

Vietnam Raises Minimum Salaries

On June the 12th, the Vietnamese Government issued Decree 38/2022/ND-CP (“Decree 38”), which specifies minimum salaries across regions for employees with labor contracts; it is effective from July 1st, 2022 and replaces Decree 90/2019/ND-CP, bringing in several labor regulatory as well as specific HR changes that must be taken into account by local businesses in

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China |  14 July 2022

Implementation of the New Stamp Duty Law in China from July 1st

During the 13th National People’s Congress at the 29th session, the Stamp Tax Law was passed by the Standing Committee and will take effect from July 1st, 2022, replacing the previous prevailing regulation. The enactment of this law is to further standardize the collection and management of stamp duties, strengthen the stamp duty tax service

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news |  7 July 2022

Deferrals of Social Insurance Dues Extended to More Industries

On June 1st, four departments including the Ministry of Human Resources and Social Security issued the "Notice on Expanding the Implementation Scope of the Deferred Payment of Social Insurance Premium Policies". Other than the most heavily hit industries by the lockdown restrictions such as retail, tourism, civil aviation, and road, water, and railway transportation, companies

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