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The Budget Law 2025 in Italy replaces the Budget Law 2024 and introduces several significant reforms and incentives to strengthen the economy, improve employment opportunities, and provide support for families. This article summarizes the key aspects of the legislation, highlighting innovations in critical areas such as taxation, labor, family support and housing. Reducing the Tax

Vietnam's 2024 Law on Value-Added Tax (VAT), approved on November 26th, 2024, by the National Assembly of Vietnam, marks an important step in reforming the country's tax framework. The law reflects Vietnam’s effort to align its economic policies with global standards, aiming to support local businesses and consumers. The 2024 VAT Law will take effect

On December 12, China's Ministry of Human Resources and Social Security, Ministry of Finance, State Taxation Administration, Financial Regulatory Authority, and China Securities Regulatory Commission issued the "Notice on the Full Implementation of the Individual Pension System." Starting from December 15, the individual pension system will be expanded from 36 pilot cities (regions) to the

According to the latest announcement by the Ministry of Finance and the State Taxation Administration, the specific content of the adjustment to the export tax rebate policy is as follows: 1. Products with cancelled export tax rebates: The export tax rebates for aluminum materials, copper materials, and chemically modified oils and fats from animals, plants,

Introduction Starting from December 1, 2024, China officially launched the new policy of linking foreign work permits with social security card information. This policy has not only reignited the discussion about the social security obligations of foreign nationals working in China but also provides a new perspective for understanding the logic and impact behind it.

China has long relied on export tax rebates to strengthen its export-driven economy, providing competitive advantages to manufacturers and exporters. However, recent policy adjustments may indicate a significant shift, gradually eliminating or reducing VAT rebates for certain export goods. In 2023, the scale of China's export tax rebates reached CNY 1.7 trillion. Looking at specific

At the Hongqiao International Economic Forum of the 7th China International Import Expo held on November 6, Wu Jincheng, Deputy Secretary General of Shanghai Municipal People's Government and Deputy Secretary of the Party Committee and Mayor of Pudong New Area, said that the Oriental Hub International Business Cooperation Zone (IBCZ), which is located in Pudong,

1. Comprehensive Promotion of Electronic Invoices for Railway Passenger Transport Effective Date: November 1, 2024 Main Content: The State Taxation Administration, the Ministry of Finance, and China State Railway Group jointly issued an announcement stating that as of November 1, 2024, electronic invoices will be fully promoted in the railway passenger transport sector to facilitate

The new Agreement Between The Government Of The Italian Republic And The Government Of The People’s Republic Of China For The Elimination Of Double Taxation With Respect To Taxes On Income And The Prevention Of Tax Evasion And Avoidance represents an important step in economic relations between the two countries, aiming to simplify tax transactions

Background and Objectives In order to fully implement the spirit of the 20th National Congress of the Communist Party of China, the second and third plenary sessions of the 20th Central Committee, as well as the relevant provisions of the Resource Tax Law of the People's Republic of China and the Water Law of the

Vietnam is preparing to implement some important adjustments to its Corporate Income Tax (CIT) law. The draft CIT law includes changes to fiscal incentives, taxable income definitions, transfer pricing regulations, and other critical areas. This revision will have an impact on different sectors' enterprises, and it is part of Vietnam's efforts to create a transparent

According to the People’s Republic of China (PRC) Law and Regulations, both domestic and Foreign-Invested Enterprises (FIEs) must follow specific annual compliance procedures (which includes the Annual Audit, the Annual Tax Filing and the Annual Reporting) to align with legal, financial, and regulatory standards. The annual compliance activities are not only a legal requirement, but