Chinese officials plan to complete the awaited VAT reform in the first half of 2016. This measure will simplify the taxation method for businesses in China by merging the business tax and the value added tax into one single tax. The method has been tested in Shanghai and is already applicable in some business fields. You can find out how this measure influences your business from the experts at our law firm in China.
China has prepared its 13th Five Year Plan which will start in 2016 and will end in 2020 and it has become clear that two items will play a crucial role in the country’s development: foreign investments and consumption. The Chinese President has already stated that the country will continue to encourage foreign investors but now the country also aims on focusing on the driver of economic growth: consumption.
China aims to implement a series of measures that would encourage consumption and encourage emerging industries, at the same time maintaining a more open attitude towards foreign investments and trying to promote its own official currency in international transactions.
China and Kenya have agreed to set up an e-commerce service which will allow for reduced logistics costs for import and export activities between the two states. The process will be straightforward, with no intermediaries and reduced risks for investors. If you are a foreign investor in China from Kenya the experts at our law firm in China can help you understand the basic laws for investments in this country.