Category: All news

Tax Alert: Individual Income Tax Reforms

On 1 January 2019, reforms in China's Individual Income Tax (“IIT”) were effective. IIT reforms ease tax burdens for lower-income earners and provision higher taxes for high-income earners – both foreign and domestic individuals. For foreign employees in China, further IIT changes from 1 January 2022 shall heavily impact the net salary. Effective from 1…

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Russia legal focus

Q. Can you alter or terminate a contract in the Russia Federation? A. The relevant regulations of the Russian Federation allows contracts to be altered or terminated under the following circumstances: Mutual agreement between the partiesThrough the court a party may claim the other party committed a material breach or there is a substantial change…

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China: Increased domestic demand paves ample opportunities for foreign investment

China offers multiple opportunities for foreign investors. In the 14th Five-Year Plan 2021 – 2025 (‘Five-year Plan), approved by the National People’s Congress of the People's Republic of China on 11 March 2021, a new economic model termed "dual circulation" was established. Dual circulation is a two-fold plan to stimulate domestic growth and consumption through…

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