Company: TCOM
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001193125-25-078429
Chunk: 114

Company: Trip.com Group Ltd
Filing Date: 2025-04-11
Form: 20-F
Item: Item 4
Chunk 114
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 significantly increased the penalties for violation of PRC Anti-Monopoly Law, among others. This amendment emphasized the enforcement of PRC Anti-Monopoly Law in the internet and other key industries. The Anti-Monopoly Guidelines for the Internet Platform Economy Sector outline certain practices that may, if without justifiable reasons, constitute abuse of dominant position. The guidelines also expressly state that concentration involving variable interest entities will also be subject to antitrust filing requirements. The Provisions on the Review of Concentrations of Undertakings further clarified the factors that should be considered to determine whether an undertaking acquires control over, or may exercise decisive influence on, other undertakings. The Interim Provisions on Anti-Unfair Online Competition specified certain online unfair competition practices that should not be implemented by operators to disrupt market competition order, affect fair market transactions or infringe the legitimate rights and interests of other operators or consumers. The Guidelines for Review of Horizontal Concentration of Undertakings specified the definition of horizontal concentration and introduced market share and relevant index to determine the scope of “safe harbor”. 
 Regulations Relating to Labor and Social Security 
 According to the PRC Labor Law, the PRC Labor Contract Law and the Implementation Regulations on PRC Labor Contract Law, labor contracts in written form must be executed to establish labor relationships between employers and employees. In addition, wages cannot be lower than local minimum wage. The employers must establish a system for labor safety and sanitation, strictly abide by national rules and standards, provide education regarding labor safety and sanitation to its employees, provide employees with labor safety and sanitation conditions and necessary protection materials in compliance with state rules and carry out regular health examinations for employees engaged in work involving occupational hazards. 
 According to the PRC Social Insurance Law the Provisional Regulations on the Collection and Payment of Social Insurance Premium and the Regulations on the Administration of Housing Fund, employers are required to contribute, on behalf of their employees, to a number of social security funds, including funds for basic pension insurance, unemployment insurance, basic medical insurance, occupational injury insurance, maternity insurance and housing funds. Any employer who fails to contribute may be fined and ordered to make up for the deficit within a stipulated time limit. 
 
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 Regulations Relating to Taxation 
 Enterprise Income Tax 
 According to the PRC Enterprise Income Tax Law and the Implementation Regulations on the Enterprise Income Tax Law, a uniform income tax rate of 25% should be applied to resident enterprises and non-resident enterprises that have “establishment or place” situated in China. Besides enterprises established