Challenges and Enforcement on China Individual Income Tax ("IIT")
China has been undertaking the reform on Individual Income Tax ("IIT") during the past years. It has been attracting unprecedented discussions and debates among all walks of life in China because of its wide spread impact. Such reform has been bringing a stricter tax compliance environment such as more tax inspections. In view of this, both the employers and the individuals are highly recommended to periodically examine their compliance in IIT reporting and be up-to-date with changing tax rules to mitigate non-compliance risks.
Besides the ordinary income such as salaries, many listed companies offer various kinds of equity based incentive plans to their senior management and selected employees. The IIT treatment for those equity plans is complicated while the plans are required to be registered at various authorities. Are you aware of all these details and the statutory requirements to keep your company in compliance?
Agenda:
13:30 - 14:00 Registration
14:00 - 15:00 Tightened China IIT control and trend, Common compliance issues related to foreigners' China IIT
15:00 - 15:20 Coffee Break
15:20- 16:20 1IIT treatment for equity incentive plans, Other considerations related to China IIT
16:20 - 17:00 Q&A
Speaker:
Gertie Chen is a Director within PwC China Shanghai Office, specialising in Personal Tax and HR Services.
Gertie joined PwC in 2000 and has over 14 years consulting experience in personal tax, human resource and immigration services.She has advised many multinational companies and domestic companies on total reward approach, tax- effective compensation and benefits package, providing consultation on human resource aspects including international mobility advisory for different type of assignees, employment contract law and social security benefits. She also advises on tax-effective employee remuneration planning and oversees the delivery of individual income tax return compliance services to employers and their employees.
James Shen is an experienced senior manager based in Shanghai. He hasover 13 years of professional experience in tax compliance and planning, human resource consulting and other services related to international assignment programmes.
James is familiar with Chinese tax and labour regulations and the HR management of multinational companies. He has advised many multinational companies and domestic companies on total reward approach, tax-effective compensation and benefits package,providing consultation on human resource aspects including international mobility advisory for different types of assignees, employment contract law and social security benefits. His extensive industry experience includes financing, law firms, manufacturing, hi-tech and consulting.