Due to the worldwide impact of COVID-19 Pandemic, some foreign expatriates working in China are unable to return to work in China or travel abroad for overseas work functions. The extended or shortened staying days in China affect the tax residence status of the foreign expatriates, which in turn, might result in different Individual Income Tax (IIT) payable in China.
Despite uncertainties on arbitration regulations in China, the countrie´s arbitral institutions push to offer the best alternatives to adapt to the “new normal”.
The Chinese central and local government have issued a series of preferential policies in order to ease the burdens of the enterprises in mainland China, in particular, the SMEs, which are affected by the Novel Coronavirus Pneumonia (NCP).
The Ministry of Finance and the State Administration of Taxation (SAT) jointly issued a series of preferential tax policies focusing on key areas and key industries of novel coronavirus pneumonia (NCP) prevention and control (Policies), which come into effect since January 1, 2020. The SAT has prepared the Summary of the Guidelines for Preferential Tax Policies in Favor of Prevention and Control of the Novel Coronavirus Pneumonia to give taxpayers a clear picture of the Policies.
“Special Administrative Measures for Foreign Investment Access (Negative List) (2019 Edition)” and the “Special Administrative Measures for Foreign Investment Access in Pilot Free Trade Zones (Negative List) (2019 Edition)” was promulgated recently and will enter into force since July 30, 2019.
On March 15th, 2019, the National People’s Congress of the PRC approved the PRC Foreign Investment Law, which will come into force on January 1st, 2020, repealing simultaneously the present foreign investment legal framework formed by the PRC Sino-Foreign Equity Joint Ventures Law, the PRC Sino-Foreign Contractual Joint Ventures Law and the PRC Wholly Foreign Owned Enterprises Law and unifying the PRC foreign investment legal regime. We highlight the key influence of the Foreign Investment Law via following aspects:The Scope of Foreign Investment;Management System of Pre-establishment National Treatment and Negative List; Protection of the Intellectual Property of Foreign Investors and Foreign Invested Enterprises;Organization and Activities of the Company. Close eyes will be kept to the implementation to the new PRC foreign investment legal regime.
To the retail operators, administrative penalty imposed on price cheating is one of the most common administrative penalties they would face in their daily operation. Price Cheating, as provided in the Pricing Law of the People's Republic of China (the “PRC”) and Regulations on Prevention of Price Cheating, refers to the act of a business operator cheating or misleading consumers or other business operators to trade with him in a false or misleading pricing form or with a false or misleading method.
Respectively on June 28, 2018 and June 30, 2018, the National Development and Reform Commission and Ministry of Commerce jointly issued the Special Administration Measures on Foreign Investment Access (Negative List) (2018 Edition) (hereinafter referred to as the “2018 Negative List”) and the Special Administrative Measures on Foreign Investment Access to Pilot Free Trade Zones (Negative List) (2018 Edition) (hereinafter referred to as the “2018 Negative List of FTZ”), to be implemented respectively on July 28, 2018 and July 30, 2018.
On March 9, 2018, the General Office of the National Development and Reform Commission (NDRC) released the Circular on Issues Relating to Strengthen the Monitor of Urban Rail Transit Vehicles Investment Projects ([Fa Gai Ban Chan Ye  No. 323]) (the Circular 323).
To deepen the reform of drug evaluation and approval system, encourage innovations in drugs, and safeguard the rights and interests of the public in regard to drug consumption, China Food and Drug Administration (the “CFDA”) has published series of pharmaceutical laws and regulations recently. Among others, the most notable is the Drug Administration Law of the People’s Republic of China (draft for consultation) (the “Draft”) promulgated on October 23th, 2017 due to several major reforms in the area of drug registration and administration.