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eAlerts Récentes

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  06/01/2025

  Chine

  Key Insights on the New PRC VAT Law: Changes and Implications

  BackgroundOn December 25th, 2024, the Standing Committee of the 14th National People’s Congress of China voted to enact the Value-Added Tax Law of the People’s Republic of China (“VAT Law”), which will take effect on January 1st, 2026. With this landmark development, 14 of China’s 18 types of tax now rest on codified laws. By largely retaining existing VAT policies, the VAT Law achieves a delicate balance between maintaining continuity and paving the way for a refined and robust tax framework.In this newsletter, we will focus on the VAT Law’s notable reforms,...

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  03/01/2025

  Chine

  Criminal Liability of Money Laundering in China - Top 10 FAQ

  The following shows a selection of frequently answered questions in conjunction with the prohibition of money laundering in the PRC Criminal Law.Q1:    What is the key legal source for the prohibition of money laundering in the PRC Criminal Law?A1:    The key legal source is Article 191 of the PRC Criminal Law, which provides criminal liabilities for entities and individuals who have committed money laundering within the scope of this regulation. Further guidance is primarily stated in the Interpretation of the Supreme People's Court and the Supreme People's Procuratorate on...

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  02/01/2025

  Chine

  Chinese Tax Regulation Update - December 2024

  The latest development in China Tax Regulation mainly includes:Measures for tax assessment of smuggled goodsNationwide roll-out of the Individual Income Tax (“IIT”) policy of individual pension contributionsEffectiveness of the double taxation treaties (“DTTs”) between China and Argentina and GabonEffectiveness of the protocol of amendment to the Sino-Austria DTT and its protocolApplication of Multilateral Instruments to more DTTsPlease click here to read the full article.

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  27/12/2024

  Chine

  China Launched Pilot Program on Segmented Production of Biological Products

  On 21st October 2024, the National Medical Products Administration (“NMPA”) issued the Pilot Program for Segmented Production of Biological Products (“Pilot Program”) with immediate effect.Segmented production of biological products is a manufacturing approach where the production process of biological drugs is divided into several stages, with each stage potentially being outsourced to different contract manufacturing organizations (“CMOs”). This approach involves breaking down the entire production cycle into specialized segments, such as upstream processing...

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  17/12/2024

  Chine

  China Amends its Anti-Money Laundering Law

  On 8 November 2024, the Standing Committee of the National People’s Congress adopted the amended Anti-Money Laundering Law (the “Amended AML Law”). It will take effect on 1 January 2025 and replace the existing Anti-Money Laundering Law of 2006 (the “AML Law 2006”).Generally, most of the amendments made under the Amended AML Law do not introduce new regulatory requirements but rather incorporate already implemented administrative regulations and rules issued by the relevant authorities. However, the Amended AML Law also includes some important changes which we summarize...

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  16/12/2024

  Chine

  What is the HR Related Change with Additional Two Days’ Public Holiday in China

  On 10 November 2024, the PRC State Council amended the Measures for National Public Holidays and Memorial Days (the “Measures”), which will take effect on 1 January 2025. Starting from 2025, the public holidays in China will be increased by 2 days. As a result, the annual public holidays will reach 13 days per year.According to the newly amended Measures, the Chinese Lunar New Year’s Eve will be a public holiday and one more public holiday will be added to the International Labor Day on 2 May. Based on such changes, the Chinese public holidays will be as follows:...

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