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Introduction The year 2021 has been a special year for the Initial Public Offering (“IPO”) market in India, with the Indian market witnessing several new age technology-led IPOs including Zomato, PolicyBazaar, Nykaa and Paytm to name a few. There has been a huge buying interest from both Retail Investors and Foreign Portfolio Investors. The Investors

In order to support domestic enterprises whose business activities, production, and operations have been severely impacted by the most recent COVID-19 outbreak in Shanghai, the authorities will implement measures such as tax rebates, tax reductions, fee reductions, rent reductions, financial subsidies, and financial support. The relief policy aims to fully support related industries and enterprises

Recently, the Organization for Economic Co-operation and Development (OECD) issued the 2022 edition of the OECD Transfer Pricing Guidelines, which has mainly updated the following aspects: • Guidance on the application of the profit split method. • Guidance on the application of the approach to Hard-to-Value Intangibles. • Guidance on financial transactions. 1. Application of

On March 1st, 2022, the Ministry of Finance and State Administration of Taxation of People’s Republic of China announced that, in order to further support the development of small and micro enterprises, small-scale VAT taxpayers, small and low-profit enterprises, and individual households, a reduction on a number of taxes by 50% of the amount payable

Starting from January 1st, 2022, foreign employees in Vietnam are required to fully participate in the social insurance scheme of the country, which may result in significant additional costs for both employers and employees alike. Foreign employees are now required to contribute social insurance at a rate of 8% monthly, and employers must also make

The United Arab Emirates, known worldwide for its extremely favorable policies and attracting investors worldwide, has introduced a federal corporate income tax (CIT) which becomes effective from June 1st, 2023. The statutory CIT rate is set at 9% and within this article, we’ve outlined the existing tax framework of the UAE and assessed the impact

On March 17th, 2017, China’s State Administration of Taxation (“SAT”) issued the Promulgation of the Administrative Measures on Special Tax Investigation, Adjustment and Mutual Agreement Procedure (“2017 Announcement No. 6”), which came into effect on May 1st, 2017, providing guidance on the application of the arm’s length principle and other related transfer pricing administrative matters.

Goods and Services Tax, also known as GST, is an indirect tax implemented in India which is levied on the supply of goods and services. According to the Goods and Services Tax Law, GST is a comprehensive, multi-stage, destination-based tax which is applied at every value addition stage. The GST Tax Act came into effect

In recent years, news of tax avoidance practices by high-income earners in the entertainment industry has attracted widespread attention in China. They have primarily used such means as changing the nature of the income by fictitious business and abusing the policy of being taxed by the approved rate and local tax incentives to reduce the

It is a well-known fact that China imposes strict foreign exchange control on the inflows (inbound payments) and outflows (outbound payments) of funds from the country. There are, however, certain aspects which foreign investors are advised to particularly take note of in relation to the outflows of funds. In China, outbound payments are generally categorized

The Vietnamese Government adopted Resolution No. 01 / NQ-CP on the main tasks and decisions for the implementation of the socio-economic development plan and the state budget estimate for 2022. It was highlighted that 2021 marked a year when many important events and initiatives were launched in Vietnam, such as the first year of the

Starting from January 1st, 2022, China will impose temporary import tariff rates on 954 items, that are lower than the most-favored-nation tariff rate. Firstly, in order to reduce the economic burden of patients and continuously improve the health and well-being of the general public, zero tariffs will be imposed on the new anti-cancer drug, radium