Preparing for New Individual Income Tax Policies on Foreign Income

Daisy Duan, Wang Yan, Chen Yijing and Sun Huanyu of King & Wood Mallesons discuss the newly announced individual tax policies and how it provides clarification on foreign income especially in relation to foreign tax credits, tax filing and cross-border secondments. They also provide suggestions on how to reduce compliance risk in light of the new tax policies

15 minute readAugust 07, 2020 at 05:06 AM

Susan Mok

Preparing for New Individual Income Tax Policies on Foreign Income

On January 17, 2020, the PRC Ministry of Finance and State Administration of Taxation jointly issued the Announcement on Individual Income Tax Policies Relating to Foreign Income (关于境外所得有关个人所得税政策的公告) (Announcement No.3), which further clarifies Chinese individual income tax (IIT) policies with

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