A new policy on cross-border e-commerce was introduced in April, 2016. In accordance with this policy, the luggage and postal item import duties won’t be levied on imported goods via cross-border e-commerce, instead, the tariff, import value-added tax and consumption tax will be levied based on imported commodity.
However, 10 pilot cities of cross-border e-commerce including Shanghai, Chongqing, Hangzhou, Ningbo, Zhengzhou, Guangzhou, Shenzhen, Tianjin, Fuzhou, and Pingtan and their customs inspection sectors have received a notice on May which suspended the new tax policy which will come into effective next year. This means that e-commerce will employ the new taxation system after one year.
The PRC General Administration of Customs (GACC) spokesman states that the one-year suspension will promote smooth transition of taxation policy and boost healthy development of cross-border e-commerce in China.
Provisions of the New Company Law on the Dismissal and Resignation of Directors China’s new Company Law, which will come into effect on July 1, 2024, creates the following systems for the dismissal and resignation of directors: first, the shareholders’ meeting may resolve to dismiss a director, but if a director is dismissed before the
The new Company Law was amended and passed on December 29, 2023, and will come into effect on July 1, 2024. The new law shortens the deadline for subscribed capital contributions, allowing companies to adjust their registered capital according to their operational conditions. This article starts by focusing on the key provisions of the new
On March 22, 2024, the Cyberspace Administration of China officially announced the Regulations on Facilitating and Regulating Cross-border Data Flow (“Regulations”) and took effect upon the date of announcement. According to the previous regulatory requirements for data outbound transfer, there are three main methods for data outbound transfer: security assessment, standard contract, and protection certification.
