Tag: Individual Income Tax (IIT)

March 31, 2021

Individual Income Tax (IIT) Preferential Tax Treatment for Foreigners: the End of Expatriate Allowances in China?

According to China’s existing Individual Income Tax (IIT) law, which came into effect on 1 January 2019, expatriates in China can...
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January 28, 2021

How to Calculate Taxes on an Annual Bonus in China 2022

In our article we discuss how the Individual Income Tax on bonuses is calculated following the end of the preferential tax...
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November 30, 2020

How to legally transfer employment income out of China?

In this article we discuss the method for individuals to transfer income from employment to a bank account abroad safely and...
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September 29, 2020

China’s Individual Income Tax: Everything you need to know

We provide an overview of everything you need to know about China's Individual Income Tax system.
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August 25, 2020

Explaining China’s Social Security System and Housing Fund Scheme for Employers

When hiring employees in China, employers must abide by relevant laws and regulations and as such are required as well to...
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February 25, 2020

Annual Individual Income Tax Settlement

In December 2019, the State Administration of Taxation issued a tax circular on the final settlement of individual income tax in...
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July 10, 2019

China cuts Pension Contributions for Employers across all of China: implications for Businesses

China has lowered employer contributions to the country's Pension Fund. These significant reductions to employer social security contributions may be one...
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July 9, 2019

China’s Recent Tax Reforms and Implications for EU SMEs

China has recently implemented changes and reforms to the Individual Income Tax (IIT), the Value Added Tax (VAT) and Corporate Income...
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May 16, 2019

Updates to China’s Individual Income Tax Reform: IIT exemption on foreign-sourced income and calculating IIT for non-domiciled individuals

Recent updates to China's Individual Income Tax provide further clarification regarding IIT exemptions on foreign-sourced income and the Tax Residence rule....
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January 14, 2019

Implications of China’s Individual Income Tax Reform: IIT calculation, itemized deductions and expat allowances

China released another update to the country's IIT Law. The new Individual Income Tax (IIT) Law outlines procedures to claim itemized...
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