Author: Horizons

CHINA | Digital Special Value-added Tax Invoices

In May 2016, value-added tax (‘VAT’) was reformed and expanded to several key sectors. The reforms unifies all sectors within a disruptive VAT system. It provides incentives to distribute the tax burden down the VAT chain. VAT unification stands to decrease the payable VAT and improve cash flow for registered taxpayers. VAT is offset by…

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Horizons signs Cooperation Agreement with Zhejiang International Investment Service Center to assist Chinese outbound investments

On 28 January 202, Horizons Corporate Advisory and Zhejiang International Investment Service Center ("ZIIS") signed a Cooperation Agreement to assist Zhejiang province-based Chinese corporations in outbound investment. ZIIS is a foreign-related service institution authorised by the People’s Government of Zhejiang Province to provide services to foreign investors and Chinese corporations. The organisation is a council…

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CHINA | New Export Control Law

The Export Control Law of the People’s Republic of China (“ECL”) took effect from the 1 December 2020. The new legislation unifies export controls provisions scattered across several laws and regulations. Export Control Law The ECL establishes the regulatory framework for export control and defines the controlled items subject to export control. For foreign companies,…

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