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Insights

CW CPA Professional Insights on China and Cross-Border Business

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What are Fapiao Invoices in China?

In China, fapiaos (meaning invoices) play a pivotal role in everyday business transactions and taxation. Unlike invoices or receipts typically used elsewhere, fapiaos have several functions. These official invoices serve not only as proof of purchase and sale of goods and services but also as a vital component in tax compliance. Due to the distinctiveness of the fapiao system, many foreign businesses establishing operations in China encounter challenges when navigating it.

Hong Kong’s Foreign-Sourced Income Exemption Regime: New Draft Legislation Expands Scope to Include Asset Disposal Gains

On 13 October 2023, the Inland Revenue (Amendment) (Taxation on Foreign-sourced Disposal Gains) Bill 2023 was gazetted to further refine the foreign-sourced income exemption (“FSIE”) regime, expanding the scope of disposal gains to include gains derived from the disposal of all kinds of assets, including movable and immovable property. Subject to the approval by the Legislative Council, the refined FSIE regime is expected to come into force on 1 January 2024.

Hong Kong Introduces Bill on Tax Certainty Enhancement Scheme for Onshore Equity Disposal Gains

On 20 October 2023, the Inland Revenue (Amendment) (Disposal Gain by Holder of Qualifying Equity Interests) Bill 2023 (“Bill”) was published. It was introduced in Hong Kong’s Legislative Council on 1 November. The Bill introduces a tax certainty enhancement scheme for onshore equity disposal gains. This article below will delve into the key features of the new tax certainty enhancement scheme as detailed in the Bill.  

Your Guide to Employee Termination in Hong Kong

Managing employee termination in Hong Kong can be a sensitive and difficult task. This article will provide you with an overview of the key aspects of employee termination in Hong Kong. It covers important topics, such as the legal grounds for termination, notice periods, procedural requirements, and unfair grounds for dismissal.

Your Guide to Employee Termination in China

Investing in Shenzhen and the GBA: Hi-tech Powerhouse Unveils Plans to Widen Doors to Foreign Investment

At the forefront of innovative development, Shenzhen has captured the interest of foreign investors around the world. At the start of August 2023, the Shenzhen Municipal Government issued three documents, each containing a clutch of measures, to comprehensively optimise the city’s business environment and facilitate foreign investment. This article will delve into how the newly implemented set of measures can enable foreign businesses to operate and invest in Shenzhen and the GBA with greater ease.
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