The Standing Committee of the National People’s Congress revised the Individual Income Tax Law of the People’s Republic of China (IIT).
The revisions came partly into effect in October 2018 predominantly affecting tax rates and general standard deductions for general income (please see previous tax-related articles).
From 1 January 2019, the revised IIT law goes into full effect and the added special deductions for overall taxable income will play a significant role in IIT calculations.
Under the revised IIT law, special […]
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