Deferred individual income tax treatment for Enterprise Annuity and Occupational Pension plans

Deferred individual income tax treatment for Ente...

China Tax Alert - Issue 35, December 2013  

sanlitun beijing

On 6 December 2013, the Ministry of Finance, the Ministry of Human Resources and Social Security and the State Administration of Taxation jointly issued Guidance pertaining to the collection and administration of Individual Income Tax on Enterprise Annuities and Occupational Pensions (“the Plans”). The circular promotes the establishment of approved Plans and to widen the national retirement savings base by deferring the point of taxation for voluntary employer contributions to retirement age and allowing a tax deduction for voluntary employee contributions to approved Plans.    

© 2022 KPMG Huazhen LLP, a People's Republic of China partnership, KPMG Advisory (China) Limited, a limited liability company in Mainland China, KPMG, a Macau (SAR) partnership, and KPMG, a Hong Kong (SAR) partnership, are member firms of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organisation.

For more detail about the structure of the KPMG global organisation please visit


Connect with us