Draft Amendments Reveal Significant Changes to China’s Individual Income Tax Law 个人所得税法修正案(草案)解读
On June 29th the latest draft of amendments to the PRC Individual Income Tax was opened to public consultation revealing potentially impactful changes. Much of the initial headlines on the draft have focussed on the consolidation of various categories of incomeand on the introduction of more itemized deductions. The proposed changes aim to promote social fairness and justice by alleviating the tax burden, increasing personal income, and boosting consumption on the middle and lower income classes.
The European Chamber is delighted to welcome IIT experts from Deloitte to explain in the depththese amendments and to elaborate on their potential implications for European companies operating in China.