Review of the Latest Preferential Tax Policies for Individuals in China

September 28, 2023 | BY

Susan Mok

A number of preferential tax policies have recently been extended for four years, with implementing circulars also providing important clarifications on applicable rules. Daisy Duan, Wang Yan and Li Cuishi of King & Wood Mallesons explore the details.

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Summary

  • A set of joint circulars extend a number of key preferential tax policies on individual income tax until the end of 2027
  • The policies affected relate to favorable tax treatment for income additional to salary, such as bonuses and equity incentives
  • Venture capital partners and foreign skilled workers in the Greater Bay Area will also benefit from the tax policy extensions