KPMG shares observations on the IIT reform and the associated impact on taxpayers via alerts and workshops.
KPMG shares observations on the IIT reform via alerts and workshops.
The amendment to reform PRC IIT Law (“the Amendment”) took full effect from 1 January 2019. The revised standard personal deduction and tax rates table will applies from 1 October 2018.
In addition to the key amendments which were discussed in Issues 14 and 16 of KPMG's China Tax Alerts issued in June and July 2018 respectively, the following are notable changes which were raised in the second review of the Draft and passed under the new law:
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