Release of “PRC individual income tax implementation rules”
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PRC individual income tax implementation rules
Content
01 Summary of new regulation on IIT
02 End of foreigner’s tax preferential policy
03 Tax authority mobile application
01 Summary of new regulation on IIT
02 End of foreigner’s tax preferential policy
03 Tax authority mobile application
During the last few months, the Chinese tax authorities announced new regulations on the individual income tax regulations and its application rules.
- On October 20, 2018, the Ministry of Finance and the State Administration of Taxation (SAT) released the “Draft PRC individual income tax implementation rules” and “Draft measures on PRC IIT additional tax itemized deductions”.
- On December 22, 2018, the official “PRC individual income tax implementation rules” was officially announced and the new IIT law will take affect on January 1, 2019.
- On December 27, 2018, the ministry of Finance and SAT released the Caishui [2018] NO. 24 to specify the new tax preferential policy.
Hereafter, we summarized the main changes for the company and the individual of these changes
