On June 10, 2021, the new Stamp Tax Law of the People’s Republic of China (中华人民共和国印花税法) was passed by the National People’s Congress. It will reduce or even eliminate the stamp tax previously levied on certain legal documents, licenses or certificates issued by an administrative authority. The new law replaces the previous Transitional Stamp Tax… Continue reading The New Stamp Duty Law also Reduces the IP Costs
Tag: Corporate Social Credit System
CSCS is Extended to the Field of IPR
China intends to expand the Corporate Social Credit System (CSCS). In the IPR field, it is intended to establish an IPR Credit System to strengthen the protection of rights holders and fight counterfeiters. So far, the application of the CSCS in the field of IPR is still limited to serious infringements of patents and to… Continue reading CSCS is Extended to the Field of IPR
Multi-Level Protection Scheme: China is Forcing Companies to Protect Their Data
With the new Multi-Level Protection Scheme 2.0 (MLPS), the regulatory pressure on companies operating in China continues to increase. The regulatory system for data and cyber security forces all companies to ensure, according to the specifications of a multi-level protection scheme, that their network is free of interference, damage or unauthorized access and that no… Continue reading Multi-Level Protection Scheme: China is Forcing Companies to Protect Their Data
The Wirecard Case Promotes the Compliance also in China
The Wirecard affair is also making waves in China. The now insolvent company was to be the first German payment service provider to enter the Chinese market. In addition to the Chinese company Allscore Payment Services, which was taken over in November 2019, Wirecard also cooperated with Chinese giants such as Alipay, WeChat Pay and… Continue reading The Wirecard Case Promotes the Compliance also in China
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