VAT Law Enacted: New Stage of China's VAT Legislation
After rounds of public consultation, the Value Added Tax Law of the People's Republic of China was announced on 25 December 2024 and will be effective from January 1, 2026. As one of the most important type of taxes in China, it is a remarkable…
Do employees who have appealed their medical discharge have to return to work?
One question that usually arises when employees appeal their medical discharges after a temporary disability process is whether they must return to their job or can wait to receive the corresponding resolution. We will see in this post that the…
Portugal: Changes approved by the 2025 State Budget Law
The State Budget for 2025 introduces tax measures focused on business competitiveness and increasing workers' wages.
European Green Bonds are here and come with new post-issuance reporting standards
The regulation establishing a standard for issuers using the designation 'European Green Bonds' (EuGB) is now in effect, but the legislative process is not yet complete: a new delegated regulation, currently under consultation, details all the post-…
EU strengthens disclosure of ESG risks in credit institutions with new requirements
Commission Implementing Regulation (EU) 2024/3172 introduces new obligations for credit institutions, which will have to disclose half-yearly information on environmental, social and governance (ESG) risks, as well as on the impacts of climate…
EU strengthens sustainability in the insurance sector with new risk management obligations
A new European directive introduces the concepts of "sustainability risk" and "sustainability factors" into the risk management of (re)insurers, obliging them to integrate them into their systems and strategic plans. It also relaxes disclosure…
Spain: The new list of CNAE-2025 codes has been published, together with the deadlines for reporting them
The National Classification of Economic Activities for the year 2025 has been updated and those responsible for the payment of Social Security contributions must comply with the reporting obligations.
Short-term accommodation rental services: how they have to comply with the new register and the digital entry point
Royal Decree 1312/2024 establishes a new registration procedure for short-term leases and creates the single digital entry point (Ventanilla Unica Digital) for Leases. This regulation, which shall apply from 1ST July 2025, seeks to comply with…
The Spanish participation exemption on dividends and capital gains is a “full exemption” for the purposes of the Controlled Foreign Company regime
According to the Directorate General of Taxes, exempt dividends and capital gains obtained by foreign holding companies do not have to be declared in Spain.
Portugal: May a partner unilaterally withdraw from the “aval” (guarantee) granted on a blank promissory note after leaving the company?
The SCJ decided that the legal binding for the “aval” in a blank promissory note may, under certain terms and circumstances, be unilaterally terminated by a former partner or former managing partner of the guaranteed company.
Ten possible changes in labor legislation expected by 2025
2025 is set to be a key year for labor relations in Spain, as major reforms that have been in the pipeline in recent times are expected, for example the reduction of the working day or the Interns’ Statute.
The Law on efficiency measures in the Public Justice Service restores the nullity of dismissal of workers with an on-demand working day
In addition to a number of procedural amendments, the regulation - published in the Official State Gazette on 3 January 2025 - restores the nullity of dismissal for workers with an on-demand working day or who take five days' leave for illness or…
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