New MofCom Rules Set to Counteract Extraterritorial Application of Foreign Laws

The Ministry of Commerce (MofCom) released Rules on Counteracting Unjustified Extra-territorial Application of Foreign Legislation and Other Measures on January 9, 2021. Coverage This new regulation covers counteracting application of certain long arm foreign law that prohibits or restricts business dealing involving a Chinese business concern and a third party state counterpart.  These rules are …

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CORONAVIRUS STATEMENT

The entire FuJae community is very concerned about the current coronavirus incident. The impact has been developed to a level that is much worse than what we as a firm could possibly imagine or plan. Over many issues, FuJae’s top priority is always the health of our partners, associates, supporting staff and other colleagues, as …

Freudenberg Filtration Technologies completes acquisition of a majority stake in Apollo Shunde

Freudenberg Filtration Technologies completes acquisition of a majority stake in Apollo Shunde

China reduces VAT rates and thresholds in phase-one of tax overhaul

China’s Ministry of Finance and the State Administration of Taxation on April 4 announced a 1 percent reduction in the top two VAT rates and an increase in the threshold for determining a general VAT taxpayer

Companies to begin paying China’s new environmental protection tax in April

This article was written by David Liu, a partner of FuJae Partners, and first published on MNE Tax, Multinational Tax & Transfer Pricing News. Businesses that directly discharge pollutants into the environment will begin paying China’s tough new environmental protection tax on April 1. This new tax law, and the Administrative Measures for Pollutant Discharge …

China’s new tax treaty beneficial ownership rules strengthen anti-abuse provisions, expand safe harbors

China’s State Administration of Taxation (SAT) on February 6 published key guidance interpreting the term “beneficial owner” in the tax treaty context

China introduces Circular 88, offering new dividend withholding tax exemption to encourage foreign investment

To counter the recent slowdown of foreign direct investment in China and the decision of some multinationals to move their manufacturing operations to South Eastern Asia countries, the Chinese government has been pushing for greater investment incentives to attract and keep foreign direct investment in China.