January 2022 - China extends transitional period for some preferential Individual Income Tax treatments
On 31 December 2021, the Ministry of Finance (“MOF”) and State Taxation Administration (“STA”) released two announcements (i.e.,
MOF STA Announcement [2021] No.42 and No.43) officially extending some preferential Individual Income Tax (“IIT”) policies
MOF STA Announcement [2021] No.42 and No.43) officially extending some preferential Individual Income Tax (“IIT”) policies
- Extend IIT exemption on benefits-in-kind for foreign individuals to 31 December 2023
- Extend separate taxation on annual one lump-sum bonuses to 31 December 2023
- Extend separate taxation on qualified equity-based compensation income to 31 December 2022
