Civil Dispute Resolution in TaiwanSeptember, 2007ForewordTaiwan is a civil law jurisdiction, and its courts are charged principally with interpreting statutory laws and have limited ability to create new remedies or laws where there is no statutory basis. Civil, criminal, and administrative cases fall under the jurisdiction of separate court systems. In addition to civil litigation, civil disputes can also be handled through arbitration, mediation, or settlement ...
In Commissioner of Internal Revenue v Ruben U Yu,(1) the Court of Tax Appeals (CTA) en banc clarified that the 180-day period referred to in section 228 of the Tax Code, as amended, applies only to the period within which the Commissioner of Internal Revenue (CIR), or their duly authorised representative, may act on a protest against a tax assessment ...
On 24 January 2024, to deepen the opening-up of the bond market and further facilitate the liquidity management of overseas institutional investors, the People's Bank of China ("PBOC") and the State Administration of Foreign Exchange published theAnnouncement on Further Supporting Overseas Institutional Investors Engaging in Bond Repurchase Business in the China Interbank Bond Market(draft for comments) (the "Announcement") (《关于进一步支持境外机构投资者开展银行间债券市场债券回购业务的公告(征求意见稿)》) to solicit public opinion ...
On 10 May 2007, the China Banking Regulatory Commission (CBRC) issued its "Notice on the Adjustments to the Overseas Investment Scope of Overseas Wealth Management Business of Commercial Banks on behalf of their Clients". This Notice widens the investment scope permitted under the Qualified Domestic Institutional Investors scheme (QDII) applicable to commercial banks (including Chinese banks and approved foreign banks in China) ...
On April 21, 2015, the State Council of China (i.e. the central government) adopted the proposed draft of Administrative Measures on Concession of Infrastructure and Public Utilities Projects (the “Infrastructure Measures”) ...
The Anti-Monopoly Bureau (AMB) of the Ministry of Commerce of China (MOFCOM) has recently published the following provisions and guidelines relating to the review procedure for merger clearance with AMB (AMB Clearance): (1) "Tentative Provisions on Standards for Simple Cases of Concentration of Undertakings " (Standards), published on 11 February 2014; (2) Trial Guidelines on Notification of Simple Cases of Concentration of Undertakings" (Trial Guidelines) , published on 18 April 2014; and (3) R
On 31 January 2013, the Chinese Supreme People’s Court (“SPC”) issued the Fourth Judicial Interpretation on Certain Issues Concerning the Application of Law in Cases Involving Labor Disputes (“SPC-Rules IV”) which came into effect on 1 February 2013. The SPC-Rules IV are based on the current employment laws and regulations and further detail several practice-relevant issues ...
China’s sports arbitration system was previously set out in Article 32 of the Law of the People’s Republic of China on Physical Culture and Sports (the “Sports Law”, as amended in 2016); however, it was never put into practice because the term was too principled in nature ...
Did you know? The Chinese National Intellectual Property Administration (CNIPA) recently revised the Examination Guidelines for software patents including artificial intelligence (AI), big data and blockchain. Why does this matter to you? These new Examination Guidelines provide much needed clarity as to the boundaries of patentable subject matter in China ...
The Guangdong Provincial Development and Reform Commission (“GDRC”) promulgated the Provisional Measures for the Administration of the Verification of Foreign Investment Projects on 18 February 2006. The Provisional Measures are the local implementing rules for the Provisional Measures for the Administration of the Verification of Foreign Investment Projects promulgated by the State Development and Reform Commission (“SDRC”) on 9 October 2004 (“SDRC Measures”) ...
The National Development and Reform Commission promulgated the Provisional Measures for the Administration of Venture Capital Enterprises on 15 November 2005. When they enter into effect on 1 March 2006, the Measures will be the first national statute governing venture capital investment in China ...
The State Administration of Taxation issued the Urgent Notice of the State Administration of Taxation on Relevant Issues in Strengthening the Administration of the Levy and Collection of Value-Added Tax for Newly Established Commercial and Trading Enterprises on 13 August 2004 ...
The Ministry of Finance and the State Administration of Taxation jointly issued the Notice on Adjustment of the Scope of the Tax Refund Policies for the Purchase of Domestically Manufactured Equipment by Foreign Investment Projects on 10 May 2006. The Notice revises the value-added tax (“VAT”) refund policy for the purchase of domestically manufactured equipment (“domestic equipment”), which is available to certain foreign investment projects ...
The Ministry of Finance and State Intellectual Property Office jointly issued the Notice of on Several Issues Concerning Strengthening the Administration on Asset Valuation in Connection with Intellectual Property Rights on 19 April 2006. Mandatory valuation The Notice clarifies the circumstances in which an assets valuation of intellectual property rights (“IP rights”) is to be conducted ...
The China Securities Regulatory Commission (“CSRC”) issued the Measures for the Administration of the Takeover of Listed Companies on 17 May 2006. Effective 1 September 2006, the Measures cover both takeovers and significant share acquisition activities in listed companies. The Measures apply to acquisitions by investors of listed companies. They impose disclosure and tender offer obligations upon investors crossing certain shareholding thresholds ...
The Ministry of Commerce (“MOFCOM”) promulgated the Provisional Measures for the Administration of Processing Trade in Export Processing Zones on 22 November 2005. The Measures replace regulations of the same name with effect from 1 January 2006. Definitions The Provisional Measures define an export processing zone (“Zone”) as a specified area subject to closed supervision by the Customs ...
On 1 March 2004, the Provisional Administrative Rules Governing Derivative Activities of Financial Institutions were implemented by the China Banking Regulatory Commission (the "CBRC") and constituted the first set of substantive regulations governing the derivatives business in China ...
On 31 December 2006, the State Property Management Commission of the State Council and the Ministry of Finance jointly issued the Notice Regarding Relevant Matters in the Assignment of the State-owned Property Rights of Enterprises to further clarify issues arising from the implementation of the Provisional Measures for the Administration of the Assignment of State-owned Property Rights of Enterprises and the Notice on Relevant Issues in the Assignment of State-owned Property
The National People’s Congress of the People’s Republic of China issued a draft Property Rights Law in July 2005 for public consultation. The Law is expected to be enacted in March 2006. The Law will be a pillar of the Chinese legal system. It is said that legal property ownership and rights are a novel concept in China ...
The Standing Committee of the National People's Congress made public China's draft law on "The PRC Labour Contract Law" on 20 March 2006, with a view to collecting opinions thereon from relevant departments and the public, for further amendments to be made to this draft law. The PRC Labour Contract Law is intended to be promulgated pursuant to the PRC Labour Law, and sets out to clarify certain ambiguities to give employees better protection ...
Complaints by foreign businesses regarding protection of intellectual property rights in China have been a consistent feature in media reports since large scale foreign investment commenced some 20 years ago. However, China's economic revolution over the same period means that opinions based on negative experiences in the past must be constantly reassessed ...
The Ministry of Finance and the State Administration of Taxation jointly issued the Notice on the Issue of the Levy of Individual Income Tax on Income Derived by Individuals from Stock Options on 31 March 2005 ("Notice"). The Notice, which entered into effect on 1 July 2005, provides a number of guidelines regarding the taxability of such schemes. Taxable event The Notice applies to stock options granted to employees of listed companies or their holding companies ...
