In the News: Social Security Change Pushback; China Amends VAT Regime; and Several US State Pension Funds Divest from China
Court interpretation of rules governing mandatory social insurance payments causes backlash; Proposed changes to implementation of China’s VAT regime aim to clarify gray areas; and Arkansas joins push to divest pension funds from China.
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Court Enforces Social Security Payment Contributions
China’s highest court has confirmed that companies and employees cannot opt out of social security insurance contributions, leading to a backlash on social media