Legal Rules on VATVAT is a tax levied on the value-added amount of the production and circulation of goods and labor services at various stages. Value-added amount refers to the value newly added by taxpayers in the process of selling goods, providing processing, repair and maintenance services, and importing goods with…
(I) Concept of tax lawTax law is a general term for the legal norms formulated by the State to regulate the rights and obligations between the State and taxpayers in terms of taxation. Tax law can be classified differently based on the different legislative purposes, tax sources, division of powers and functions, scope …
Taxes are usually classified as follows in China.(I) Based on different tax sourcesBased on their different tax sources, taxes can be divided into turnover tax, income tax, property tax, resource tax, and behavioral tax.Turnover tax is a type of tax levied on the turnover in the production and circulation of goods and p…
I. Concept and Characteristics of Taxation(I) Concept of taxationTaxation is a special distribution means by which a state obtains financial revenue for free by virtue of its political power and according to the standards stipulated by law in order to exercise its functions. Taxation reflects a specific income distribut…
The PRC Arbitration Law: Arbitration CommissionsArticle 10 An arbitration commission may be established in a municipality directly under the Central Government, the capital city of a province or an autonomous region, or any other city divided into districts, where necessary, rather than at each level of an administrativ…
PRC Arbitration Law: Arbitration Agreements(These clauses are selected from China Arbitration Law and Its Interpretations authored by Robert Zhang and Steve Li, international arbitration attorneys registered in Shanghai, China.) Article 16 An arbitration agreement may be an arbitration clause in a contract or an agreeme…
PRC Arbitration Law: Composition of Arbitral Tribunals – 3 (These clauses are selected from China Arbitration Law and Its Interpretations authored by Robert Zhang and Steve Li, international arbitration attorneys registered in Shanghai, China.)Article 35 A challenge to an arbitrator shall be filed before the first hear…