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On February 21, 2025, the Shanghai Municipal Government released a series of significant policies aimed at reducing corporate operating costs, boosting market confidence, and driving economic recovery. These measures cover key areas such as taxes, costs, and financing, bringing tangible benefits to businesses. I. Tax Optimization: Reducing Burden and Providing Incentives Shanghai has implemented multiple

The Main Taxes and Tax Rates in Vietnam As a member of the WTO, Vietnam applies a unified tax standard for both domestic and foreign-invested enterprises. Different tax rates and preferential periods are implemented for projects in various sectors. The main taxes in the current tax system include Corporate Income Tax (CIT), Value-Added Tax (VAT),

Trade Tensions Escalate 1. China to Impose Tariffs on U.S. Products and Launches Anti-Monopoly Probe into Google China has unveiled retaliatory measures against the United States as both countries prepare for a renewed trade war. However, observers suggest that Beijing negotiate. On Tuesday, Beijing announced it would impose punitive tariffs ranging from 10% to 15%

The new Value-Added Tax (VAT) Law of the People’s Republic of China, approved on December 25, 2024, by the Standing Committee of the 14th National People’s Congress (NPC), will come into effect on January 1, 2026. This updated law aims to streamline and regulate the VAT system in China, aligning it with national economic goals

Announcement No. 4 of 2025 by the State Taxation Administration has optimized several aspects related to the issuance of the China Tax Resident Identity Certificate, with the following key points: 1. Expansion of Applicable Scenarios Applicants can choose the purpose of application as either "enjoying treaty benefits" or "non-enjoyment of treaty benefits" based on their

In January 2025, Vietnam is experiencing significant economic and financial developments, with new policies and reforms aimed at strengthening its position as one of the most dynamic emerging economies in Southeast Asia. Below are the key updates in this sector. 1. Tax and Fiscal Reforms The Vietnamese government has implemented significant reforms in the fiscal

Employee reimbursement is a frequent financial management activity within companies. However, the tax compliance of these reimbursements is often overlooked, which can lead to tax risks. This article will provide a detailed analysis of the key points for tax compliance and risk prevention in employee reimbursement. I. Corporate Income Tax Treatment When deducting employee reimbursement

China's Commitment to Expanding Opening-Up and Welcoming Foreign Investment China is set to introduce more measures to expand its opening-up and attract additional foreign investment in 2025, according to the Ministry of Commerce (MOC). MOC official Li Yongjie announced at a press conference that efforts will be made to further ease market access. She highlighted

During the process of providing cross-border technology transfer tax services for a distinguished client, we encountered some thought-provoking issues and would like to take this opportunity to share and discuss them with you. Case Background A foreign-invested enterprise registered within China (hereinafter referred to as the "domestic company") plans to purchase a patent technology from

I. Pre-Review Preparation First, confirm the qualifications of the contract parties, inspect the business license, tax registration certificate, etc., of the counterparty to ensure their legal business operation and tax payment qualifications. Then, verify whether the contract amount matches the project budget. For any excess, review the approval procedures. Carefully check the amount information in

The Customs Tariff Commission of the State Council has issued the Tariff Adjustment Program for 2025, since January 1, 2025, China has adjusted the tariff rates and tariff items of some commodities, and added some new subheading annotated expressions, with the total number of tariff items reaching 8,960, and this policy change has a positive

The Indian Central Board of Direct Taxes (CBDT), which operates under the Department of Revenue in the Ministry of Finance, has established a transfer pricing tolerance range for both international and defined domestic transactions for the Assessment Year (AY) 2024-25, as stated in notification no. 116/2024 dated October 18, 2024. This adjustment is part of