Updated tax laws to hit foreign pay pockets in China
BEIJING – Caixin reported today that revisions to China’s personal income tax code will mean foreign workers are subject to more tax payments within the same time horizon.
Foreigners residing in China for more than six months (183 days) in a calendar year will see their taxable income extended to their entire worldwide income, the law states, while those resident on the Mainland for less than 183 days will only pay tax on onshore income.
The new rules, passed earlier this month, were first introduced at the end of June and will take effect next year. www.webershandwick.cn (ATI).