China’s cabinet clears path for VAT law to take effect next month

    China’s cabinet clears path for VAT law to take effect next month

    The State Council has approved draft regulations for implementing China’s new value-added tax (VAT) law, which is aimed at governing the country’s largest source of tax revenue and set to come into effect early next year. The regulations, released for public consultation in August and approved on Friday, outline detailed rules for enforcing the VAT…

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    Hong Kong tram driver faces jail over crash that killed girl, 3

      Hong Kong tram driver faces jail over crash that killed girl, 3

      A Hong Kong tram driver faces jail for careless driving that killed a three-year-old girl and injured three others, after a court condemned his actions as having “serious consequences”. Deputy Magistrate Chung Wing-sze on Tuesday found Li Yaodong, 50, guilty of carelessly driving outside Kennedy Town Swimming Pool on the morning of August 15, 2024,…

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      Dutch-China Tussle Over Chips Adds to Carmaker Woes

      Dutch-China Tussle Over Chips Adds to Carmaker Woes

      Simmering tensions with China look poised to deliver another blow to European industry. In the latest flashpoint, the Dutch government’s move to sideline chipmaker Nexperia’s Chinese owners has triggered a response from Beijing that threatens to restrict key supplies for carmakers. As China cut Nexperia’s Chinese factory off from the Dutch parent, the company has…

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