In late 2009, the PRC tax authorities issued their most influential and also most controversial anti-avoidance tool, Notice 6981, to combat indirect transfers designed by offshore investors to avoid paying the 10% capital gains tax on the direct transfer of equity interests in Chinese resident enterprises. On February 6, 2015,…
Effectively managing corporate compliance efforts in today’s regulatory environment–preventing corporate officers and employee from engaging in illegal practices,…
Various countries and their compliance-enforcing agencies request that companies have “adequate” compliance programs and organizations. But what does…
Why Should Financial Institutions, Hedge Funds And Private Equity Firms In The Asia Pacific Region Be Concerned About These Regulations In recent years, compliance risks associated with the U.S. Foreign Corrupt Practices Act (“FCPA“) and the U.K. Bribery Act (“BA“) have intensified. U.S. regulators have vigorously enforced the anti-bribery provisions…
The days of the US Justice Department being the sole prosecutor of international corporate corruption are long gone.…
Baker & McKenzie just published its new edition of “Doing Business in China”. The guide provides an introduction to…
Baker & McKenzie has released its first global client survey on Social Media. Based on the responses from international clients across a range of 14 sectors the report highlights how corporate social media use stands at a critical point in its development. While the understanding of how and where social media…
China Snapshot Topic Summary Governing legislation The primary legislation governing corruption include the Criminal Law of the PRC,…
In November 2014, widespread press reports in China announced that Chinese competition authorities would imminently commence investigations into…
The Organization for Economic Cooperation and Development (OECD) on December 2, 2014 released its first-ever analysis of anti-bribery on a global scale. 427 transnational bribery cases that occurred between February 1999 and June 2014 were reviewed. The key findings are: Almost two-thirds of cases occurred in four sectors: mining (19%);…