Notice on IIT to all clients
Dear Clients :
Here is the key information sharing on China new IIT laws, hope it’s helpful for your review.
1. According to the latest Individual Income Tax Law, the individual tax threshold will be adjusted to 5,000 yuan from October 1, 2018；
2. The tax threshold will be keep same for both Chinese and foreigners from Oct 1st ,2018.
3. The residents from Taiwan, HK, Macao could work legally in mainland China without work permit and endorsement.
4. According to the "progressive taxing mechanism", in a natural year, the trend for net salary is: Net salary from High amount to Low amount, IIT from Low to High.
5. For Employee, only IIT calculation method changes monthly, but no change on annual net salary;
6. For Enterprise, there is no influence on total enterprise total cost.
7. If there is any change on employee's IIT special additional deduction, please let us know in time. Then let him/her resubmit personal information on "IIT APP".