Dear founding members and friends,
The European Union Chamber of Commerce in China would like to invite you and your partners to our next Executive Briefing on June 20th, 2019 (Thursday) at Yantai HuaSheng International School.
China has been undergoing the Individual Income Tax ("IIT") reform with the amended tax law taking into effect from January 1, 2019. The amended tax law and a serial of new tax regulations could bring about profound changes to the Chinese IIT landscape. In this connection, what impacts will be for foreign individuals working in China? European Chamber invited PwC tax experts who will share with you the key changes and impacts to foreign individuals working in China, the suggested actions for the company and foreign individuals to take, as well as answer your questions at our event.
Expert from PwC will cover but not limit to the following main topics:
1. Key Changes of China Individual Income Tax (“IIT”)
- Overview the new China IIT Law
- New method for calculation & withholding for monthly IIT
- Overview of Additional Itemized Deductions (“AID”)
- AID vs. Tax Exemption Benefits (“TEB”) for foreigners
- IIT treatment and planning for annual bonus
2. Highlights for Non-China Domiciled Individuals
- The New Six Year Rule
- Determination of domicile in China
- Determination of tax residency in China
- Time Apportionment and various formulas
3. Suggested Actions for the Company to Take
- Internal Review of the Company Policy and Process
- Timely Update of the New Rules to foreign employees
- Ongoing Awareness of Tax Updates
4. Q&A
Target audience:
top executives, foreigners, tax and HR leads
Agenda:
14:00-14:30, registration and networking
14:30-15:30, presentation from Mr. James Shen, Associate Director, Global Mobility Services, Shanghai, PwC
15:30-16:00, Q&A session
Cancellation Policy:
If you cannot attend an event for which you have registered, please cancel your registration no later than 24 hours prior to the event, otherwise the full rate will be charged.
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