Search Results for: business

RUSSIA | Legal Focus

Q. Can you alter or terminate a contract in the Russia Federation?

A. The relevant regulations of the Russian Federation allows contracts to be altered or terminated as follows:

Mutual agreement between the parties

Through the court a party may claim the other party committed a material breach or there is a substantial change in the basis that the parties entered into the contract;

Relevant law or the contract itself provisions alteration or termination clause.

For companies wishing to alter or terminate a contract, there […]

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CHINA | Preparing for Employees Returning from Chinese New Year?

Chinese New Year is a significant travel period for
many Chinese citizens to return home and celebrate the new year. Usually, the
period marks the largest migration in the world with many returning for an
extended holiday. However, amidst the on-going pandemic and domestic COVID-19
breakouts, the Chinese government encourage only necessary travel during the
Chinese New Year. Provincial and municipal governments across China have also
issued local travel restrictions for individuals entering in.

For employers, such travel restrictions and
unpredictable breakouts can directly impact business operations after […]

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CHINA | Digital Special Value-added Tax Invoices

In May 2016, value-added tax (‘VAT’) was reformed and expanded to several key sectors. The reforms unifies all sectors within a disruptive VAT system. It provides incentives to distribute the tax burden down the VAT chain.

VAT unification stands to decrease the payable VAT and improve cash flow for registered taxpayers.

VAT is offset by a special VAT invoice acting as the VAT credit to offset input VAT from output VAT. Above is a simplified version of the VAT chain.

From […]

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