New PRC Individual Income Tax (IIT) Reform: The proposed IIT amendment draft - Workshop 2018

Action

Overview

On 29 June 2018, the details of the proposed “PRC IIT Law Amendment Draft” (“Draft”) was released by the PRC central government to the public for consultation.

Based on the Draft, there are a number of significant changes on the PRC IIT rules and regulations, namely, modification of the definition of “tax resident”, consolidation of income items, adjustment of income brackets, increase of the statutory deduction, introduction of anti-avoidance rules, etc.

In this workshop, we will go through the details of these proposed changes and discuss how these proposed changes will affect the taxpayers in future.

Key topics covered:

• To understand the proposed changes on the PRC IIT Law
• To understand the possible tax impacts to local PRC national and overseas expatriates
• To understand that proposed new PRC IIT filing systems in China
• To understand the possible IIT planning ideas in the coming future

Trainers profile:

Janssen Chan FCPA (Aust.), Managing Director, commenced his career with Big 4 and started to practice and specialize in Hong Kong tax and China tax since 1990s. He has extensive experience in providing China tax and business advisory to multi-national corporations in various areas such as China individual income tax, corporate tax, customs, forex and entry strategies, IPO related matters, etc. Janssen is a regular speaker at seminars and workshops on tax matters in various countries and professional organizations in Hong Kong and China. At the same time, he is also served as the “Chairperson of the SME committee” as well as the “Divisional Councillor” of the CPA Australia, Greater China.

Brian Cheng CPA (Aust.), Senior Manager, has more than 10 years of tax experience in providing China and Hong Kong personal tax compliance and advisory services. Over the years, he has developed extensive experience in handling cross-border personal tax issues between Hong Kong and China. He maintains good relationships with various tax officers in China and provides technical and practical solutions to multinational corporations and Fortune 500 clients. He is a regular speaker on tax topics for various professional organizations and the Hong Kong Trade Development Council. Brian is a member of CPA Australia and HKICPA.

Objectives

• To obtain an idea on the proposed PRC IIT reform
• To obtain an idea on the potential tax impacts to the individuals in the coming future

Audience

CEO/CFO, Financial Directors/Managers, HR Directors/Managers, Tax Practitioners, Individuals who are working in China