China Releases Long Awaited Reform to IIT Law

Aug 28, 2018
David Dingfa Liu, Partner and Tianxiao Jin, Associate at Fujae Partners in Shanghai discuss the newly passed Individual Income Tax Law. The law that will come in force on January 1, 2019 would have a significant impact on taxpayers.

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

On August 31, 2018, the Standing Committee of the National People’s Congress of China published the Amendments to the PRC Individual Income Tax Law (中华人民共和国个人所得税法) (the IIT LawReform) which will become effective on January 1, 2019. The IIT Law was last amended in 2011. Since then, the tax brackets, the corresponding tax rates and tax-deductible expenses have not been revised, even though the average household income and living expenses have significantly increased.

This premium content is reserved for
China Law & Practice Subscribers.

Benefits Include:

  • Unlimited access to site and digital newsletters
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

Continue reading by getting
started with a subscription.

Subscribe Now For Unlimited Access