Read Publication

On 20 October 2018, the Ministry of Finance and the State of Administration of Taxation (SAT) deliberated on a draft to amend the Implementing Regulations for the Individual Income Tax Law ("Draft Implementing Regulations") and the draft Interim Measures on the Additional Special Deduction Items for the Individual Income Tax ("Draft Special Deduction Measures"). Both drafts will take effect on 1 January 2019 to implement the new Individual Income Tax (IIT) Law.

In this article, we will discuss the key provisions in the two drafts and identify actions that individual taxpayers and their employers should take in anticipation of the new IIT regime.

Please feel free to share the alert with your colleagues who might also be interested in the topics raised.

If you have any questions on the topics covered or need further clarification on any particular issue, please do not hesitate to get in touch with your usual contact at Baker McKenzie, or any of the lawyers listed below.

Explore More Insight