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To further support the development of the house leasing market in China and ensure the stability of the industry, the "Announcement of Improving Tax Policies for Housing Leasing" (No. 24 of 2021) has been issued. The effective date was October 1st, 2021, and the main provisions of which we shall discuss in this article. Housing

The heads of the tax authorities of the BRICS (Brazil, Russia, India, China, South Africa) countries held an online meeting which was chaired by India and concluded on Wednesday, September 18th, 2021. The representatives agreed to continue closer cooperation and creating tax administrative capacity and effective tax management systems, especially in light of the digitalization

On the 15th of July 2021, the “Guideline on Supporting High-level Reform and Opening-up of the Pudong New Area and Building a Pioneer Area for Socialist Modernization” (“the Guideline”) was issued by China’s Central Committee and State Council. The Guideline sets out development planning for Pudong New Area in Shanghai and specifies the following preferential

The authorities in Vietnam have introduced several measures to support both employers and employees affected by the COVID-19 pandemic. Hence, in order to minimize the economic impact of the pandemic on the Vietnamese economy, the following measures have been proposed: 1. Measures to Support Affected Employers (Resolution 68/NQ-CP, 1 July 2021) · An employer’s contribution

From 2022 expatriates in China will no longer be entitled to additional tax-free benefits, which in turn will result in higher tax liabilities and likely increased costs for employers. Therefore, preparations for possible increased costs and tax burdens should be held as early as possible to ensure a smooth transition and renegotiation of foreign employees’

The electric vehicle (EV) industry in India is emerging as a very promising area for investment as the massive automotive industry of the country is in search for more efficient, economical, and green solutions. This article looks into the key trends, opportunities for investors, as well as challenges faced by the country in shifting to

Foreign employees and businesses employing foreign individuals in Shanghai must be aware of the changing regulation in relation to the foreigners’ social insurance. The special provision on staff social insurance contribution that has been successfully implemented in Shanghai is set to expire on 15 August 2021. This article looks into the matter in a greater

Over the past decade, foreign investors have been attracted by Vietnamese government’s efforts to keep the economy growing with multiple administrative measures. As foreign investors, when making the first venture into the Vietnamese market, they ought to consider many aspects of their move. We at DP Group strive to help our clients and potential investors

The GDP of Vietnam in the first half of 2021 has delivered a growth of 5.64% on a year-on-year basis, which is three times higher than the growth numbers recorded in the same period last year. Despite the volatile environment amidst the global pandemic, these figures are a reflection of the coordinated work to prevent

China State Administration of Foreign Exchange (SAFE) has announced measures to optimize the banking procedures for current-account foreign exchange (forex) purchase, settlement or remittance. According to Hui-fa [2021] No. 13, SAFE instructs all banks in China to optimize the review procedures on forex-related requests raised by Chinese nationals and expatriates based in China, specifically targeting

India has announced its formal opinion on the upcoming OECD – G20 global tax deal stating that a ‘consensus agreement’ is likely to be reached in October of this year. India is in favor of a harmonious solution which may be simple to implement and would have clear tax compliance requirements. So far, 130 countries

On July 9th, the People's Bank of China decided to lower the deposit reserve ratio of financial institutions by 0.5% from July 15th, 2021 (excluding financial institutions that were previously subject to a 5% reserve ratio). After this reduction, the weighted average deposit reserve ratio of financial institutions sets at 8.9%. Since the beginning of