PRC Individual Income Tax Reform Seminar | KPMG | CN
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People’s Republic of China Individual Income Tax Reform Seminar

A detailed look at the Draft Amendments to the Individual Income Tax Law of the PRC

24 July 2018 - 30 August 2018, 14:00 - 17:00, CST Shanghai, China

A detailed look at the Draft Amendments to the Individual Income Tax Law of the PRC

On 19 June 2018, during the third session of the Thirteenth National People’s Congress of the People’s Republic of China (“PRC”), the Minister of Finance outlined the proposed amendments to PRC Individual Income Tax (“IIT”) rules. On 29 June 2018, the National People’s Congress released the full text of the draft amendments to the PRC IIT law on its official website seeking consultation from the public.

The proposed amendments to the PRC IIT Law have drawn considerable attention from the public and mark an important step forward on the IIT reform. The reform represents a fundamental change to the PRC IIT regime and details of the implementation rules have yet to be released.

 

Highlights of the Draft Amendments

  • New Tax Residence Rules
  • Consolidation of tax categories and the introduction of “Comprehensive Income”
  • Adjusted tax rates and brackets
  • Increased monthly standard deduction for Comprehensive Income
  • Introduction of additional itemized deductions
  • Introduction of general anti-avoidance rules (GAAR)
  • Tightened PRC IIT compliance and enforcement

 

Impacts of Reform

The revised PRC IIT law will take effect from 1 January 2019.  The reform will likely have the following impacts:

  • Reduction of tax burden for the working class;
  • Expansion of the taxation scope of foreign individuals in China, and the associated costs to their onshore and offshore employers;
  • High net worth individuals’ global investment strategy and the relevant tax compliance costs

 

Seminar details

In view of the potential impacts of the PRC IIT Reform on enterprises and individuals working in China, during July to August 2018, KPMG tax teams will be holding interactive seminars across 13 cities to discuss the following:

  • Explanation of the Draft Amendments
  • Potential impacts of the reform on the working class, expatriates in China, high net worth individuals, onshore and offshore employers.
  • Challenges faced by individual taxpayers as well as enterprises and what they can do to prepare for the upcoming changes.
  • Questions and answers session

Contacts

Connect with us

Agenda
Location Date and Time Venue Language Fee Registration Contact
Shenzhen 24 Jul 2018 (Tue)
14:00-17:00
10/F, China Resources Building
5001 Shennan East Road, Shenzhen
Mandarin RMB300 Click here Kathy Chen
+86 (755) 2547 3418
Xiamen 26 Jul 2018 (Thu)
9:00-11:30
Kepinski Hotel Xiamen
98 Hubin Middle Road, Xiamen
Mandarin RMB300 Click here Dina Jiang
+86 (592) 2150 793
Shanghai 26 Jul 2018 (Thu)
14:00-17:00
KPMG Training Centre
9/F, Tower 1, Plaza 66
1266 Nanjing West Road, Shanghai
Mandarin RMB300 Click here Takoda Xia
+86 (21) 2212 3093
Fuzhou 27 Jul 2018 (Fri)
9:00-11:30
C&D Hotel Fuzhou
11 Hualin Road
Mandarin RMB300 Click here Jossie Hong
+86 (592) 2150 786
Hong Kong 27 Jul 2018 (Fri)
13:00-16:00
KPMG office, 23/F, Hysan Place
500 Hennessy Road, Causeway Bay
Hong Kong
English HKD300 Click here Phoebe Tsang
+852 3927 5624
Guangzhou 30 Jul 2018 (Mon)
14:00-17:00
22/F, CTF Finance Centre
6 Zhujiang East Road, Guangzhou
Mandarin RMB300 Click here Sky Du
+86 (020) 3813 8715
Beijing 2 Aug 2018 (Thu)
9:00-12:00
3/F, KPMG Tower, Oriental Plaza
1 East Chang An Avenue, Beijing
Mandarin RMB300 Click here Rolali Li
+86 (10) 8508 7547
Echo Zhang
+86 (10) 8508 7530
Tianjin 8 Aug 2018
(Wed)
14:00-17:00
Room 06-08, 40/F, Tianjin World Financial Center, 2 Dagu North Road, Tianjin Mandarin RMB300 Click here Carina Lu
+86 (22) 2329 6238
Ext 6135327
Austin Man
+86 (22) 2329 6238
Ext 6135316
Shenyang 8 Aug 2018
(Wed)
14:00-17:00
19/F, Tower A, Fortune Plaza
61 Beizhan Road, Shenyang
Mandarin RMB300 Click here Diane Liu
+86 (24) 3128 3958
Qingdao 16 Aug 2018
(Thu)
14:00-17:00
The Westin Qingdao
8 HongKong Middle Road, Qingdao
Mandarin RMB300 Click here Evelyn Wang
+86 (532) 8907 1763
Hangzhou 21 Aug 2018
(Tue)
14:00-17:00
12/F, Building A, Ping An Finance Centre
280 Minxin Road
Mandarin RMB300 Click here Becca Sheng
+86 (571) 2806 1316
Shanghai 23 Aug 2018
(Thu)
14:00-17:00
23/F, Tower 2, Plaza 66
1266 Nanjing West Road, Shanghai
English RMB300 Click here Dacian Ou
+86 (21) 2212 3093
Chongqing 23 Aug 2018
(Thu)
14:00-17:00
Room 1507, 15th Floor, Metropolitan Tower, 68 Zourong Road Mandarin RMB300 Click here Nicole Shu
+86 (23) 6383 6318
Chengdu 24 Aug 2018
(Fri)
14:00-17:00
17/F, Office Tower 1, IFS
No. 1, Section 3 Hongxing Road
Mandarin RMB300 Click here Joni Zhang
+86 (28) 8673 3930
Nanjing 30 Aug 2018
(Thu)
14:00-17:00
23/F, E07-1 Tower, Suning Intelligent City
Jiqingmen Street, Gulou District, Nanjing
Mandarin RMB300 Click here Angela Zhang
+86 (25) 8691 2987

洪晓婷
+86 (592) 2150 786

洪晓婷
+86 (592) 2150 786

舒婷婷
+86 (23) 6383 6318

Guide

Seminar fee in Mainland China and Hong Kong will be RMB300 and HKD300 respectively. To register, please refer to the Agenda tab for registration link and contact person.