China launches unilateral visa-free policy for Spain and other 5 countries on a trial basis
In order to facilitate cross-border communication, China has decided to expand the pilot scope of unilateral visa-free countries, and as a result, China’s visa policy will soon undergo significant changes.
Relief the Individual Income Tax burden of taxpayer in China: extending the preferential policy period or increasing the deduction standards
In August 2023, there are a number of individual income tax (IIT) preferential policies implemented by relevant Chinese government authorities with either extension of the preferential policy period or increased deduction standards. The aim is to…
Key Developments in the Laws and Regulations of China in 2023
This newsletter selects and briefs key developments in the laws and regulations of China in relation to foreign investment until August 2023 for your reference.
China: Highlights of Envisaged Amendments to PRC Company Law
A few months ago, China released the Company Law (Second Draft Amendment). The envisaged amendments include company's organizational structure, shareholder capital contribution and other aspects. This article briefs some highlights in light of the…
Commission's decision on tax lease partially annulled
On February 2, 2023 the Court of Justice of the European Union (CJEU) partially annulled Commission Decision of 17 July 2013 which declared that the Spanish tax lease system was a state aid scheme and ordered it to be recovered from the investors…
7th Anniversary of the 2030 Agenda: 10 initiatives to lead change from the private sector
Businesses play a key role in the adoption of the Sustainable Development Goals. We take a look at some of the most significant initiatives and actions being adopted by the private sector to implement the 2030 Agenda and contribute to change.
God Save the Queen: what will happen to the Royal Warrants granted by the late Queen?
Garrigues IP Blog
Latest COVID-19 related regulations and policies in China
Due to the ongoing situation of COVID-19 in China, especially in Shanghai, the Chinese government has introduced more regulations and policies or extended the deadline of the previously issued regulations and policies to further support both the…
China: EIT Preferential Policy for the Small Enterprises with Low Profit
From 1 January 2021 to 31 December 2022, small enterprises with low profit will be subject to EIT of 2.5% on the part of annual Enterprise Income Tax (EIT) taxable income that is no more than CNY 1 million.
China: Promotion for the Input Value Added Tax Credit Refund Policy
According to Announcement (2019) No. 39 issued by Ministry of Finance, State Administration Taxation and General Administration of Customs (Announcement No.39) as well as other related tax regulations, taxpayers that meet the following criteria…
China: Value Added Tax exemption policy for small-scale taxpayers
On March 24, 2022, the Ministry of Finance and the State Administration of Taxation (SAT) issued an announcement regarding the Value Added Tax (VAT) exemption for the small-scale taxpayers that will be applicable from April 1, 2022 till December 31…
Peru: Term to respond to consumer claims (reclamos) and complaints (quejas) shortens
The new term for suppliers to answer consumer claims (reclamos) is 15 business days, time which cannot be extended, replacing the previous term of 30 calendar days, which could be extended for an additional 30 days. Additionally, the amendment…