Tax Breaks and Supportive Policies to Benefit the Film Industry in China

2020-06-18 14:01:23

China Ministry of Finance and State Taxation Administration announced that taxpayers in the film industry will be exempt from VAT on income derived from the provision of film screening services. This is to apply retrospectively from January 1, 2020 t...(more)

US Eases Conditions for Working with Huawei on 5G Standards

2020-06-17 12:08:10

The US and China move a step forward to work together. The US commerce department loosened its sanctions to allow US companies to collaborate with Huawei on setting technical standards that will determine the rules of the road for 5G and other emergi...(more)

Huawei Becomes Global Smartphone Leader - 21% market share in April, beating Samsung’s 19%

2020-06-16 11:30:50

Due to a downturn in the Indian market, according to Counterpoint Research data, Samsung's global shipment market share shrank to 19.1% in April, making Huawei, which has been following closely behind, surpass Samsung for the first time in single-mon...(more)

Tax and Fee Cuts to Recover Economy Impacted by COVID-19

2020-06-12 17:27:25

The announcement included in Chinese Premier Li Keqiang’s annual Work Report states that China will reduce business expenses by over RMB 2.5 trillion this year, including RMB 500 billion in tax and fee cuts, in an effort to help the economy recover...(more)

Shareholder Meetings Can Be Held Over Online Video Conference but Should Be Included in the Articles of Incorporation

2020-06-08 18:22:20

According to the Company Act Article 356-8, a close company may state in its Articles of Incorporation that its shareholders meeting can be held by means of visual communication network or other methods promulgated by the central competent authority....(more)

China News - June 5

2020-06-05 17:45:09

Shanghai Announces First Round of Tariff Waivers on U.S. Import Items Statistics released by the Shanghai Customs show that the Shanghai Customs have implemented waivers for the first batch of tariff-imposed US goods. By the application deadline o...(more)

Overseas E-commerce Sales from 2019 Must Declare Corporate Income Tax

2020-06-04 13:32:35

Officials reminded that if an overseas e-commerce company has cross-border sales of electronic services to individual consumers in Taiwan in 2019, even if the e-commerce company has applied for cancellation of tax status, it is still required to file...(more)

China News - June 3

2020-06-03 18:16:20

Jiangsu - Further Reduction in 5G Usage Price The Industry and Information Technology Department of Jiangsu recently revealed that 35,000 5G base stations have been built in Jiangsu Province, accounting for 12% of the total in the mainland, with ...(more)

US Semiconductor Industry Seeks $37 billion Government Boost

2020-06-02 18:00:56

The Semiconductor Industry Association (SIA) is asking for $37 billion in federal funding to support the US chip sector. In the midst of the trade war between the US and China, on May 15, TSMC has announced to invest $12 billion on a wafer fab in Ari...(more)

CbC Report - Safe Harbor Rules - Taiwan

2020-05-19 16:43:56

On 10 December 2019, the Ministry of Finance (MOF) issued Administrative Decree No. 10804651540 providing exemption from CbC reporting for Taiwan entities under a MNE Group headquartered outside Taiwan. The new safe harbor rules prescribe that the Ta...(more)

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