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
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
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
