- Jan 21, 2019
- 1 min read

New Implementation Regulations for Individual Income Tax Law

Following the release of the newly revised Individual Income Tax Law of the People’s Republic of China on August 31, 2018, PRC State Council promulgated the revised Implementation Regulations for the Individual Income Tax Law (“New Regulations”) recently on December 18, 2018, which will come into force on the same day along with the new Individual Income Tax Law on January 1, 2019.

To ensure the better implementation of the new Individual Income Tax Law, the New Regulations have following highlights:

Increase the tax preferential treatment for foreigners;
Refine the details of “other deductions” for the calculation of taxable income of a resident individual;
Final settlement can be handled through delegation.

Recent Posts

See All

DOJ further aligns Export Control and Sanctions Enforcement Policy with FCPA enforcement practices

On 13 December 2019, the US Department of Justice (DOJ) announced a revised Export Control and Sanctions Enforcement Policy for Business Organizations (Revised EC/S Policy), clarifying its prior guida

BVI Financial Period Reporting for Economic Substance

All active BVI entities are required to report to the relevant BVI authority whether they conduct a relevant activity as set out in the attached schedule. Where an entity does not conduct a relevant a

THE VARIABLE CAPITAL COMPANY (VCC) IN SINGAPORE

In further effort to augment the Fund Industry in Singapore, the Monetary Authority of Singapore (MAS) and the Accounting and Corporate Regulatory Authority (ACRA) launched the Variable Capital Compan