Preparing for Upcoming Changes to China's Individual Income Tax (IIT) Law

The 13th NPC Standing Committee concluded its fifth session on August 31st, 2018 and passed an amendment containing broad changes to the existing Individual Income Tax Law (IIT)《中华人民共和国个人所得税法》. The revised IIT law marks a significant milestone to PRC IIT system and will be partly implemented from this October and come fully into effect on January 1, 2019.

Dezan Shira & Associates is partnering with the American Chamber of Commerce in China to host the Preparing for Upcoming Changes to China's Individual Income Tax (IIT) Law event.  Ines Liu, Assistant Manager on DSA's International Business Advisory team, will be there to discuss the challenges for expatriates in wake of these changes.

The amendment to the IIT law will make changes to 12 of the Law's 15 articles and adds 7 new articles, including:

• New Tax Residence Rules
• Tax Categories Consolidation
• Adjusted Tax Rates and Brackets
• Higher Minimum Thresholds
• Special Expense Deductions
• General Anti-Tax Avoidance Rules (GAAR)

The revised IIT law will bring significant challenges to the expatriates in China with global incomes and enterprises' human resources and financial departments who must cope with the change. From the expanded taxation scope of foreign individuals to the raising compliance risks of foreign enterprises, our member companies should be fully prepared for the upcoming changes.

Agenda

9:30 AM       Registration and Networking

10:00 AM     Reform Highlights Introduction

10:20 AM     Address Rising Cost and Increased Obligations from the HR Perspective

10:40 AM     Preparing for the Upcoming Challenges

11:00 AM     The New Law in Practice: Case Study in IIT

11:20 AM     Group Discussion and Audience Q&A

How to Register

For more information on this event and registration, please click here.