Home

PLEASE NOTE: Due to popular demand, AmCham Shanghai is hosting a second session in the afternoon, the content covered will be the same as the morning session. The morning session is fully booked with limited seating available for the afternoon. For any questions on registration please contact kelly.deng@amcham-shanghai.org.


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


In view of the potential impacts of the PRC IIT Reform on enterprises and individuals working in China, KPMG Shanghai Global Mobility Services team will lead a session 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


Agenda

14:00 Registration & Networking

14:15 Welcome Remarks

14:20 Presentation

15:00 Audience Q&A

15:30 Session Ends

Speakers

  • Jason Jiang (Director of KPMG)

    Jason Jiang

    Director of KPMG

    Jason is a director at Global Mobility Services team in KPMG Advisory (China) Limited.

    Jason has more than fifteen years experience in providing individual income tax compliance and advisory services to multi-national clients from a wide range of industries with international assignment programs covering both Chinese inbound and outbound assignees.

    He has assisted multi-national companies operating in China with managing their PRC individual income tax compliance processes and is experienced in advising clients on:

    • Formulating tax-optimised remuneration packages for globally mobile employees
    • Foreign exchange implications for international assignees in general
    • Addressing Chinese foreign exchange and tax implications for MNCs rolling out global equity compensation plans to participants in China
    • Identifying tax risks through conducting health checks and devising plans to address deficiencies in existing operations

    view more
  • Lina Hu (Senior Manager at KPMG)

    Lina Hu

    Senior Manager at KPMG

    Lina is a Senior Manager at Global Mobility Services team in KPMG Advisory (China) Limited. Lina Hu joined KPMG tax practice in Shanghai in 2006, with more than 10 years of professional working experience in tax function. Lina has been rendering tax services to multi-national companies in a wide variety of industries, including the manufacturing, pharmaceutical, service and trading sectors. She brings value to the GMS team with her extensive experience in providing international tax advisory and compliance services to clients on cross-border assignments in areas of international assignment policy, program administration, equity compensation planning and registration.

    view more

Tickets

A prepayment is required when choosing 'Standard Price'.

“标准票价”要求您在提交注册信息后即刻完成在线预付，若您希望在活动现场支付门票，请选择“现场票价”。
Member Ticket
Member Price Complimentary
Member Company Employee Ticket
Standard Price RMB 150
Door Price RMB 150
Non-Member Ticket
Standard Price RMB 300
Door Price RMB 300