News Across Asia

Accounting Records in China: Keeping up to Date with the New Regulations

China's Ministry of Finance (MOF) and the National Archives Bureau have jointly adopted a revised "Administrative Measures on Accounting Records". In effect since the beginning of the year, the new measures are significantly different to the previous 1999 legislation and are important for all enterprises with operations in China.

Vietnam News Brief: Information Security, Venture Capital Regulations, and New Tariff on Steel Imports

In this week's Vietnam Regulatory Brief we discuss the consolidation of information security legislation, analyze the impact of impending legislation pertaining to venture capital, and highlight Vietnam's new tariff on steel imports.

Outlook on Light Manufacturing in China: March 2016

Are You Qualified? Handling Internal Bookkeeping in China

China has recently released new provisions that permit accounting companies to engage in agency bookkeeping, allowing them to handle bookkeeping services entrusted by a client. However, the provisions contain strict guidelines on which entities can qualify.

Obtaining the Certificate of Chinese Tax Resident

Certifications and licenses are more important than one would imagine in China’s business market and tax system. In this article, we introduce what is known as a Certificate of Tax Residency, and provide detailed guidelines on how foreign expats and enterprises can obtain the certificate.

China Regulatory Brief: Shanghai Maternity Leave Policy and Measures to Regulate Bookkeeping Agency

In this week's China Regulatory Brief, we look into Shanghai's new local maternity leave policy, criteria for a qualified bookkeeping agency in China, policies for foreigners to enroll in China's social insurance scheme, and procedures for setting up a foreign credit inquiry institution.

China Regulatory Brief: Annual Inspection of Foreign Law Firms, 144-hour Visa-free Entry Scheme

In this week's China Regulatory Brief, we introduce China's 144-hour visa-free transit scheme applied to foreigners from 51 countries, the annual inspection of foreign law firms in Shanghai, and the VAT reform to be fully implemented in 2016.

Labor Case Study: Terminating a Manager in China

Firing managers is an especially complicated process in China that requires a thorough understanding of the country’s laws. In this article, we present a case study that illustrates how a successful termination can be made.

Outlook on Light Manufacturing in China: January 2016

Common Labor Issues Encountered During the Reduction of a Business's Operations

During a downturn in the Chinese economy, shifting operations to a less expensive location can be particularly attractive for foreign investors. However, not all employees will be willing to be relocated, and problems often arise as a result.

Market Entry Strategies for Private K-12 School Service Providers in China

Chinese households now spend 30 percent of their income on education – higher than both Korea and Japan. This year, the previous restrictions put on foreign-invested private schools have been largely lifted, though foreign investors are still prohibited to directly engage in certain sensitive fields.

Granting Restricted Stock Units to Your Employees in China

An restricted stock unit (RSU) is a form of compensation offered by an employer to an employee in the form of company stock. Find out how to enjoy preferential tax rate when offering RSUs to your excellent employees in China.