In China, individual income tax ('IIT') is calculated on an accumulated basis. From August 32 2018, the revised Individual Income Tax Law reformed taxable income for tax residents to be measured on a consolidated basis from the 1 January to 31 December (tax year). In other words, the tax rate applied in January should be…
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From 8 January 2023, China dropped mandatory quarantine for inbound travelers and opened its borders. It's time for a 2023 legal health check! For the first time in 3 years, international travelers can utilise the 24/ 72/ 144 visa-exemption transit policy for short business trips. And Chinese nationals can freely travel aboard. For many European…
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From January 1, 2023, the following China tax changes applies to companies: High-Technology Companies For those who purchased new equipment and appliances between October 1, 2022, and December 31, 2022, a lump sum deduction is allowed in the calculation of taxable income for the current year. 100% super-deduction before tax is allowed Research and Development…
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