Individual Income Tax Special Additional Deductions: Childcare Expenses for Under-three-year-old Infants and Toddlers
On 28 March 2022, the State Council published the Notice on the Establishment of Individual Income Tax (IIT) Special Additional Deduction for Under-three-year-old Infants and Toddlers’ Childcare. The new policy specifies that childcare expenses for children under three years old can be deducted from one’s IIT taxable income at RMB 1,000 per month per child […]
China’s Updated Measures on Supervision and Administration of Business Operations of Medical Devices 2022
Regulations on business operations of medical devices have been further tightened as of 1 May 2022, as authorities work on updating existing guidelines. Enterprises selling medical devices in China should take note. To improve existing industry guidelines, the State Administration for Market Regulation released the latest version of the Measures on Supervision and Administration of […]
Guangzhou is Building A Wealth and Asset Management Center in the Guangdong–Hong Kong–Macao Greater Bay Area
On 8 June 2022, Guangzhou officially launched the construction of a Cross-border Wealth Management and Asset Management Center in the Guangdong-Hong Kong-Macao Greater Bay Area with a ceremonial event held in Guangzhou. The ceremony marks the start of a new journey for Guangzhou to fully build a Greater Bay Area wealth management and asset management […]