Tax

Guo Yongmao of Haiwen & Partners discusses the various types of taxes under the PRC tax regime that new companies must consider when setting up a business in mainland China and highlights how tax impacts investors of a PRC company if they are foreign entities when considering dividends distribution, interest payment and transfer pricing

PCAOB accuses PRC authorities of not allowing inspection and investigations of audits; E-commerce live streamer "Viya" fined USD$210 million for tax evasion and social media accounts suspended; and credit card regulation on the horizon

E-commerce orders are exempted from stamp tax

Application for the simplified procedure for advance pricing is made easier

Daisy Duan of King & Wood Mallesons discusses enterprises that will qualify to be an applicant under the simplified procedure for unilateral advance pricing arrangements (APAs) and those that are excluded, and the benefits of having a streamlined APA process for MNCs in cross-border transactions

Tax filing is not needed for domestic reinvestment of a foreign investor

Enterprise income tax treatment of cross-border hybrid investments is clarified.

MNCs are concerned about enforcement and the monitoring and verification requirements of the new national market

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