Now! China

Now! China — May 2019

6 June 2019
China has reduced employers’ maximum share of basic pension premiums for urban workers from 20% to 16% nationwide with effect from 1 May 2019.

Now! China — April 2019

6 May 2019
China is considering the inclusion of punitive damages in all intellectual property rights (IPR) laws with the aim of ensuring adequate deterrence and coverage of losses due to IPR infringement.

Now! China — February 2019

12 March 2019
A circular issued by the State Administration of Taxation on 1 February 2019 states that a taxpayer who received an annual compensation exceeding RMB120,000 in 2018 is not required to file the 2018 individual income tax return, unless he or she falls into certain situations.

Now! China — January 2019

21 January 2019
China’s State Administration of Taxation (SAT) issued notices to clarify regulations for the taxpayer’s identification number on regular value added tax invoices and the commodity and service tax classification code.