The European Chamber Finance & Taxation Working Group is pleased to have Guangzhou Tax Bureau to brief the members on the new Individual Income Tax Law (IIT) and handle members questions. During this seminar, Tax Experts will help you to understand comprehensively the new IIT and its implication for both foreigners and Chinese citizens. It will also cover IIT incentives for GBA area talents.

The new IIT Law effective from 1st January 2019 brings significant changes to China’s IIT regime as well as foreigners in China. In this respect it is also important to understand when seconded foreign employees (sent to China by their HQ) are actually becoming subject to China's new IIT law. This seminar will cover the below topics:

What the updates of New IIT Law ?

What are the implications of New IIT Law?

What are the implications of dispatching foreign employees to China ?

What are the policies for IIT incentives for GBA area talents?

Can foreign employees establish a permanent establishment of the HQ?

How should we respond to this new changes of New IIT Law?

How to optimize the IIT strategies under the new Law?

Outline of the Presentation

Overview of PRC Individual Income Tax (“IIT”) Reform

• Definition of "Resident" for IIT purpose
• New 6-year Rule
• Determination the source of income for non-China domiciled individuals
• Determination of taxable salaries and wages - “Tax Apportionment” changed to "Income Apportionment”
• Tax-free fringe benefits for foreign individuals vs. Additional Itemized Deduction
• Preferential tax treatment – Bonus & Equity-based compensation
• Tax collection measures for non-China domiciled individuals 

Potential impacts to enterprises and foreign individuals under the new IIT law

• Potential impacts
• The way forward

IIT subsidy in the Greater Bay Area ("GBA")

• Introduction of the IIT subsidy rule in GBA
• Comparison with Qianhai IIT subsidy

Tentative Agenda:

2:00-2:05pm Welcome notes by Mr. Aaron Finley, Finance & Taxation National Vice Chair & South China Chair

2:05-2:35pm the new IIT Policy Updates by Ms. Yang Lifen, Guangzhou Taxation Bureau, Q&A

2:35-3:35pm Potential impacts to enterprises and foreign individuals under the new PRC IIT Law by Emily Liu

3:35-3:45pm Coffee break

3:45-5:00pm Q&A

Bank Transfer Information
RMB Bank Account
A/C Name: 中国欧盟商会
A/C No.: 7110210182500027543
China CITIC Bank 中信银行京城大厦支行
Capital Mansion Sub Branch
No. 6, Xinyuan Nan Road
Chaoyang District, 100004 Beijing
北京市朝阳区新源南路6号京城大厦            
S.W.I.F.T. Code: CIBKCNBJ100

Speakers

Ms. Emily Liu

Assistant Manager of Deloitte China

Ms. Emily Liu

Assistant Manager of Deloitte China

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Ms. Emily Liu is an Assistant Manager of Deloitte Global Employer Services team and has specialized in China Individual Income Tax (“IIT”) and Hong Kong Salaries Tax for 10 years.
Emily serves lots of multinational clients in manufacturing, electronics, banking and etc.. Her professional experience includes:
Providing tax compliance and consulting services for inbound and outbound employees；
Tax optimization advices for senior managements；
Advisory services on equity incentive arrangement from China tax perspective and foreign exchange control registration related matters；
Advisory services on international assignment policy design, cost projection under difference employment model for Chinese outbound enterprises;
Hong Kong Salaries Tax compliance and advisory services.

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