In the News: Expat Tax Exemptions; New IPO Restrictions; and Virtual Assets Recognized

September 07, 2023 | BY

Clarence Lee

China announces that overseas taxpayers will be exempt from certain taxes until the end of 2027; China attempts to boost the secondary market by introducing a phased restriction on IPOs; and PRC People's Court recognizes virtual assets as property despite crypto ban

Falling cryptocurrencies (bitcoins, dogecoins, shiba coins, binance coins and other) Credit: Igor Faun/Shutterstock.com

|

China Extends Tax Exemptions for Expatriates to Limit Foreign Brain Drain

China's Ministry of Finance announced that overseas taxpayers will continue to enjoy tax waivers for individual income, rent, language training, and children's education until the end of 2027, SCMP reported on Aug. 29, 2023.

This premium content is reserved for
China Law & Practice Subscribers.

  • A database of over 3,000 essential documents including key PRC legislation translated into English
  • A choice of newsletters to alert you to changes affecting your business including sector specific updates
  • Premium access to the mobile optimized site for timely analysis that guides you through China's ever-changing business environment
For enterprise-wide or corporate enquiries, please contact our experienced Sales Professionals at +44 (0)203 868 7546 or [email protected]