News & Insights

May 6, 2016

New Tax Rules Set to Overhaul China’s Cross-Border E-Commerce Business

As an incredibly booming sector estimated to grow at 40% annually, cross-border e-commerce industry in China is often criticized as a grey zone that is hardly regulated.  One of the key questions often asked is whether the products handled by e-commerce enjoy some type of special deal, such as reduced import duty or market access.  …

April 30, 2016

VAT completely replaces Business Tax on May 1, 2016

This is a brief update of our newsletter article on the same subject matter dated March 15, 2016. Since the issuance of Notice Caishui [2016] No. 32 on March 7, 2016, the PRC Ministry of Finance and State Administration of Taxation have subsequently issued a series of tax circulars (Subsequent Tax Circulars) in March and …

March 25, 2016

Proposed Amendments to the Anti-Commercial Bribery Provisions Under the Anti-Unfair Competition Law

On February 15, 2016, the Legislative Affairs Office of the State Council published, for public comment, a draft of the amended Anti Unfair Competition Law (the AUCL) which the State Council proposes the National People’s Congress or NPC should adopt (Proposed Draft). As a matter of procedure, the Proposed Draft is not yet in its …

March 15, 2016

China will soon levy Value Added Tax (VAT) in all industry sectors

On March 7, 2016, the PRC Ministry of Finance and State Administration of Taxation (“SAT”) issued a notice, Caishui [2016] No. 32 (Notice 32), instructing various SAT branches and provincial local tax bureaus across the country to expand the trial application of VAT to the remaining industry sectors which are still subject to business tax …

March 15, 2016

FuJae Partners welcomes Christina Tao and Hong Han on Board

Christina Tao, a general corporate and IP lawyer, and Hong Han, a general corporate and litigation lawyer, became members of FuJae Partners as of March 1, 2016.  Christina has practiced law for 14 years and Hong Han has been licensed to practice law since 2005.

December 16, 2015

China issues more new tax policies to encourage technology innovation

On October 23,2015, China’s Ministry of Finance (MOF) and the State Administration of Taxation (SAT) jointly published a circular (Cai Shui [2015] No.116) on the “Expansion of Pilot Tax Policies in National Innovation Demonstration Zones to all of China” (“Circular 116). In this newsletter, FuJae Partners will outline the four pilot income tax policies that …

December 1, 2015

FuJae and McGuireWoods Form Strategic Alliance

FuJae Partners and International Firm McGuireWoods Form Strategic Alliance.

November 20, 2015

AB InBev SAB Miller Merger Tests China’s Competition Watchdogs

As AB InBev and SAB Miller deliberate over the latter’s purchase share price as part of a proposed merger between the two beer giants, China’s competition watchdogs will be eagerly watching. A combined AB InBev/SABMiller would command more than 40% of China’s beer market, enough to guarantee that the Ministry of Commerce (MOFCOM), which enforces the mergers and acquisitions provisions of the China’s 2008 Anti-Monopoly Law (AML), will be closely evaluating the potential implications of this contemplated merger for the Chinese market.

November 18, 2015

China Streamlines Business Registration

In a move to boost domestic entrepreneurship, China’s government has passed a new regulation stipulating that business licenses, tax registration certificates and enterprise organization code certificates will now all be issued by the State Administration of Industry and Commerce (SAIC). The country’s new business registration system, informally known in Chinese as 三证合一 which translates into “three licenses combined into one”, takes effect on Oct 1 2015.