The Highlights in the Implementation Regulations of PRC Corporate Income Tax Law
Ⅰ Background of Formulation of Implementation Regulation of Corporate Income Tax Law
On 16 March 2007 China’s top legislature, the National People’s Congress (NPC), passed the new Company Income Tax Law (CIT Law) which unified the income tax system of the domestically funded and foreign funded enterprises in China. To ensure the smooth implementation of the CIT Law, there is necessary to formulate the implementation regulation which could further give details about relevant provisions of the CIT Law. Read more
Questions & Answers of China’s New Labor Contract Law
A new labor contract law putting into effect on January 1 2008 caused great attention and heat discussion of society. Such a new law makes the employers nervous and anxious. After reviewing and drafting about ten companies’ employment contracts, employment contracts’ attachments and handbooks in accordance with the new law, I will summarize the main questions often raised by companies during my practice herein and hope that this article will be helpful to most employers.
Before giving my summary, I will do some explanations about labor law (hereinafter referred as ‘old law’) and labor contract law (hereinafter referred as ‘new law’) at first. In practice, a lot of employers confuse these two laws, and deem that the labor contract law will instead of labor law when the former put into effect. This point of view is incorrect. These two laws are different. Labor law will still be effective. Only when the articles of labor law conflict with the labor contract law, then they will be invalid. Read more