This issue of China Briefing focuses on the intricacies of determining who is subject to declaratory obligations, particularly concerning tax regulations in China. The report delves into various aspects including the personal income tax (IRPEF) in China, exemptions from income, benefits granted, and procedures for obtaining a work permit.
Key points include:
- Determining who must comply with declaration requirements.
- Understanding the tax rates (IRPEF) in China, which are currently being reviewed by Chinese authorities.
- Clarifying aspects related to tax matters for foreign employees working in China.
- Guidance on the process and necessary documentation required for obtaining a work visa.
- A special section discusses how the Italian tax authority recognizes a broader possibility of applying rules regarding Controlled Foreign Corporations (CFCs) for companies investing in China through Hong Kong.
The publication also offers free subscriptions to the site, available in multiple languages, and provides updates on legal and fiscal changes from Dezan Shira & Associates, a consulting firm specializing in services for businesses operating in Asia. It features an Italian Desk managed by Dr. Alberto Vettoretti, providing assistance to Italian clients in China and Italy.
A dedicated section on personal income tax for foreign individuals in China is included, focusing on the complexities and frequent changes in Chinese tax regulations. It addresses issues such as tax thresholds for Chinese residents, registration procedures, and penalties for non-compliance. The report further explores the tax implications for individuals holding dual roles in both China and abroad.
Lastly, the publication acknowledges the contribution of Dezan Shira & Associates in the preparation of this issue and welcomes readers to explore the free digital magazine, access historical archives, and subscribe to receive a monthly copy of the magazine via email.
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