Performance of contracts shall match the exact contractual obligations. Therefore, formulating robust and clear contracts is a must to decrease contractual disputes. Parties to a contract must render exact and complete performances to be released from legal liabilities. Any unfulfilled legal obligations can be subject to civil and administrative penalties - therefore, for companies doing…
Read moreAuthor: Horizons
In China, individual income tax ('IIT') is calculated on an accumulated basis. From August 32 2018, the revised Individual Income Tax Law reformed taxable income for tax residents to be measured on a consolidated basis from the 1 January to 31 December (tax year). In other words, the tax rate applied in January should be…
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China finished its annual legislative meetings of the Chinese People Political Consultative Conference (CPPCC) and the National People’s Congress (‘NPC’) in Beijing – commonly referred to as the Two Sessions (Liǎng huì). The Two Sessions is an insight into the overarching economic and political direction.With the current geopolitical tensions between China and the West and…
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