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New Individual Income Tax Rules of the People’s Republic of China (“PRC”)

China has implemented a reform of the Individual Income Tax (“IIT”) aiming at reducing the tax burden of individual taxpayers. On 1st January 2019, the new PRC IIT Law associated with its detailed implementation rules as well as a series of supplementary IIT regulations (collectively referred to as the “New IIT Rules”) came into effect. The article summarizes the key aspects brought by the New IIT Rules. 

Please click here (https://www.cms-china.info/insight/2019/01_Tax/Newsletter.html) to read the full version of the article.

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Authors

Gilbert Shen
Gilbert Shen, CPA
Counsel
Shanghai