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2023.05.29 China
Introduction to Liability for Damage of Liquidation Obligors
According to the laws of the Peoples Republic of China, a company shall be liquidated upon its dissolution. Should the person (obligor) with the obligation of the liquidation of the company fail to fulfill such obligation in accordance with the law, the obligor shall bear the corresponding legal liabilities. This article will sort out the issues concerning corporate liquidation obligors’ liability from a practical perspective for the reference of companies in the field.
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2023.05.26 China
Introduction and Risks Associated with the Transfer with Mortgage for Second-hand Housing
On January 5th, 2023, in the midst of the downturn of the second-hand housing market, six Departments of Shenzhen Government jointly issued The Notice of Work Program on Promoting the "Transfer with Mortgage" Model for Second-Hand Houses transaction in Shenzhen ([2023] No.1, Real Estate Construction of Shenzhen Government). Within the so-called "transfer with mortgage" mode, the seller doesn’t have to pay off the loan in advance, but directly transfers the ownership of the house to the buyer, using the buyer's money to pay the mortgage, which enables the second-hand housing transaction procedure to be greatly simplified.
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2023.04.27 China
An Overview of Employees' Salary Payment and Tax Issues During a Company’s Shutdown
In China, when a company temporarily shuts down its production and operations, how does it affect its employees’ remuneration? Is the loss of work due to the stoppage deductible for Enterprise Income Tax filing? In this article, we shall briefly introduce the payment of employees' salaries and the tax treatment of the company's downtime for reference.
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2023.04.19 China
Shenzhen – The Capital of China's Cross-border E-commerce
According to customs statistics, the total imports and exports volume of China's cross-border e-commerce industry has increased nearly 10 times in the last 5 years. In 2022, the total imports and exports volume of cross-border e-commerce reached 2.11 trillion yuan, an increase of 9.8%. According to industrial statistics, the annual output value of Shenzhen's cross-border e-commerce industry has exceeded 500 billion yuan, and the imports and exports volume of Shenzhen cross-border e-commerce in 2022 have exceeded 180 billion yuan, a year-on-year increase of more than 2.3 times, and an increase of about 130 billion yuan over 2021, from these figures alone, Shenzhen has no doubt become "the capital of cross-border e-commerce ".
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2023.03.30 China
Compensation and Tax Policies for Employees Leaving Their Jobs
According to the relevant provisions of the current laws and regulations, enterprises usually need to pay compensation to employees who they want to terminate or dismiss their labor relations. What’s more, if enterprises dismiss labor relations illegally, they may have to pay indemnity to employees. This article will focus on the compensation and indemnities and the relevant taxation issues when enterprises terminate or dismiss labor relations with their employees.
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