Deepak
Sep 4th, 2011
Sep 4th, 2011
China’s new individual income tax rates
China’s legislature has approved an increase in the individual income tax free threshold to RMB 3500 for Chinese nationals and a new streamlined schedule of tax brackets, down from nine to seven. The new rates will come into effect from September 1st.
Foreigners will also be subject to the new rates; however, the tax free threshold for foreign workers will remain at RMB 4800. Continue Reading »