Foreign Individuals in China:
- IIT Reform will increase the possibility that foreign individuals working in China will be recognized as Chinese tax residents, thus affecting their personal income tax liability. Currently, individuals with no residence in China apply the “Five-year Rule” to exempt most income from obtained in China, but it is not clear whether the rule will be cancelled in the future.
- If the “Five-year Rule” is cancelled, foreign individuals who constitute Chinese residents may need to consider adjudicating resident status of other countries in conjunction with the “Tie-breaker rule” in the relevant tax treaties (if applicable) to ultimately determine their resident status.
- Employers may need to assist their employees in fulfilling employee’s annual comprehensive income report. For locally employed foreign employees, additional assistance may be required to assist employees in achieving personal income tax compliance under IIT Reform.
Date: 29 November 2018
Time: 7:30am – 9:30am (Registration from 7:30am Breakfast event )
Venue: 2F Langham Hotel, 99 Madang Rd, Shanghai