Chinese New Year is a significant travel period for many Chinese citizens to return home and celebrate the new year. Usually, the period marks the largest migration in the world with many returning for an extended holiday. However, amidst the on-going pandemic and domestic COVID-19 breakouts, the Chinese government encourage only necessary travel during the…
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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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Today, China’s increasingly open economic system, combined with an ever-growing middle-class, has paved the road to vast opportunities for foreign investors. Against the backdrop of a reform and economic transformation turned into a sustainable and innovative driven model, China inbound investment has entered a new era. Specifically, in China’s 13th 5-year plan the drive towards…
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