Tax

The Vietnamese government has tightened provisions surrounding national security and nominee transactions in its new foreign investment regime

Manufacturers are offered greater tax deduction on R&D expenses

Biden administration adds seven Chinese supercomputing entities to Entity List; SAMR issues record antitrust fine on Alibaba over market dominance abuse; and new measures released for Hainan free trade port

Daisy Duan and Wang Yan of King and Wood Mallesons look back at the key tax developments which took place in 2020, and consider the outlook for the coming year.

Calculation of resource tax on third party purchases is clarified

Hong Kong to allow certain overseas-listed Chinese companies with corporate weight voting rights to secondary list; China expected to grow at weakest pace in 44 years according to Reuters poll; and CFFEX approves equity index futures trading for qualified foreign investors

The new Deed Tax Law uniformly increases the deed tax rate

The time to pay urban maintenance and construction tax is specified

China fosters local chipmakers with tax breaks

Trump issues executive orders barring transactions with WeChat, TikTok after 45 days; U.S. officials recommend delisting non-compliant Chinese firms by 2022; China introduces tax, investment incentives for domestic chipmakers