News

A Shanghai-based company (“Company A”) secured a major contract from an Italian customer to supply a complete set of equipment and perform installation services. As Company A has no legal entity or operational presence in Europe, it subcontracted the entire project to a …

China’s Value-Added Tax Law (“VAT Law”) and its Implementing Regulations came into force on 1 January 2026. Subsequently, the Ministry of Finance and the State Taxation Administration issued a series of supporting announcements to ensure smooth implementation.

In a significant step towards deepening India’s capital markets and enhancing the country’s attractiveness as a global investment destination, the Union Minister for Finance and Corporate Affairs, in the Union Budget for FY 2026–27, announced a series of measures aime…

Entities use various forms of short-term and long-term debt in their capital structures. Common forms of short-term debt include short-term notes payable, commercial paper. Long-term debt may include long-term notes payable, debentures, bonds, and fiancé leases.

A Critical Notice for Enterprises in India: Advance Tax is a cornerstone of tax compliance in India. Its mandatory nature should not be underestimated due to its "installment" payment structure. For Chinese enterprises operating in India, their Indian branches, and self-employed professionals, the tax compliance cycle for Fiscal Year 2026-27 (FY 2026-27)has officially commenced. The

Vietnam is one of the fastest-growing economies globally. Its economy expanded by 8% in 2025, with nominal gross domestic product (GDP) reaching nearly $500 billion. International goods trade has been a key driver of the country’s economic growth, establishing Vietnam as an increasingly important and strategic manufacturing and trading hub in Southeast Asia. In 2025,

Recent court rulings in China have established that artificial intelligence replacement is not a legitimate reason to terminate employees, thus imposing a critical balance between technological advancement and labor rights protection. The legal principle emerging from such cases sends a clear signal to both domestic and foreign enterprises: automation cannot become a shortcut to bypass

China's economy delivered a robust start to 2026, with gross domestic product expanding 5.0% year-on-year in the first quarter to 33.42 trillion CNY (approximately US$4.9 trillion), according to data released by the National Bureau of Statistics (NBS) on April 16. The growth excedeed market expectations of 4.8% and accelerated from 4.5% in the previous quarter.

India's direct tax regime is undergoing its most radical transformation in decades with the enforcement of the Income-tax Act, 2025. This reform is not merely a renumbering of forms but a fundamental shift toward a data-driven, transparent compliance ecosystem. The Unified Audit: Form 26 The traditional "three-form" audit structure has been discarded in favor of

As a general principle, VAT liability – or so called "tax point" – is triggered by the occurrence of a taxable transaction. Specifically, liability arises on the date the sales proceeds are received or when the taxpayer obtains documentary evidence entitling them to such proceeds. However, if an invoice is issued prior to payment or

The year 2026 marks not only the beginning of the 15th Five-Year Plan period but also the decisive starting line for China as it advances towards the fundamental realization of modernization by 2035. For businesses, this is far from just another routine five-year cycle; it heralds an era of differentiation and reshaping. Whether a company

China's economy in 2025 achieved its official growth target of around 5%, but the underlying trajectory showed clear deceleration and structural imbalance. Quarterly GDP growth slowed from 5.4% year-on-year in Q1 to 4.5% in Q4, reflecting weakening domestic demand even as external and industrial sectors remained relatively resilient. Across the year, a consistent pattern emerged: