China Individual Income Tax Update
After China released the Draft Amendments to the Individual Income Tax Law, several questions remained. This article answers these by explaining all aspects of the recently released Implementation Regulations for China’s IIT Law.
China Monthly, Quarterly and Annual Compliance Requirements
Most companies in China must meet several monthly, quarterly and annual tax deadlines and compliance requirements. This article will discuss Corporate Income Tax (CIT), Value Added Tax (VAT) and Surtaxes, Individual Income Tax (IIT), the Housing Fund, and Social Security.
China’s IIT Reform Impact
The amendments to the PRC IIT Law will introduce a number of potential important changes for individuals and their employers in China.
Tax Break Principle China
What does “Tax break” stand for? What does the Individual Income Tax Law (IITL) state in China? What are the underlying rules and practices? The “Tax Break” is not an official rule in the Chinese tax authority. It is a common practice based on the understanding of the Individual Income Tax Law (IITL), the Individual Income Tax Implementing Rules (IITIR) and the Caishuizi (1995) issued by the Ministry of Finance (MOF) and the State Administration of Taxation (SAT).
