This regulatory update covers the Supreme People’s Court’s guidelines on calculating interest for overdue payments in foreign and regional currencies, as well as new administrative measures for the final settlement and payment of consolidated individual income tax.

For foreign-law entity LPs in a Qualified Foreign Limited Partner (QFLP), should their income be taxed at 10% or 25%? If the foreign entity is a Hong Kong resident, can it enjoy the CEPA tax preferential treatment, and would the tax rate be reduced to 5% after the preferential treatment?

The Value-Added Tax Law of the People's Republic of China was passed by the 13th Meeting of the Standing Committee of the 14th National People's Congress on December 25, 2024, and will come into effect on January 1, 2026. The VAT Law introduces a fundamentally different legislative philosophy and approach. The underlying logic and shifts in approach will inevitably have a profound impact on future updates and refinements of VAT-related laws.

This regulatory update covers interim measures for law enforcement in online transactions, new regulations on cyber data security management, the revised Anti-Money Laundering Law, and guidelines on the participation of older unemployment insurance beneficiaries in the basic pension insurance for enterprise employees.

The buyback clause serves as a crucial exit mechanism in equity investments, enabling investors to require the target company to repurchase their shares under specific conditions, thereby safeguarding investors' interests. When the target company fails to fulfill its repurchase obligations in a timely manner, investors typically seek to protect their rights by holding the company liable for breach of contract. In judicial practice, courts may limit or deny the target company’s liability for breach of contract based on considerations such as creditor protection and market order maintenance. This article provides an overview of the legal validity of buyback clauses, outlines three judicial approaches to investors' claims for breach of contract by target companies, and offers risk mitigation strategies for investors.

In relation to the act of tax evasion through the use of fraudulent VAT invoices to claim tax deductions, there are five different theoretical viewpoints in legal academia regarding the applicable legal theory and corresponding penalties: