The revised Individual Income Tax Law of the People’s Republic of China stands to significantly affect workers’ monthly net salaries going forth in 2019. From 1 January, individuals monthly net salaries should have risen from their December salary, as the individual withholding tax calculation has been altered from a monthly taxable basis to annual accumulated income basis (although tax is still withheld on a monthly basis). What’s more, the type of deductions applied to calculate the monthly taxable income has […]
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