On October 22, 2018, two important circulars, "Draft Implementation Rules of the Individual Income Tax (IIT) Law" and "Draft Rules of Specific Additional Tax Deductions", are released and have brought up heated discussions among companies and individuals about the PRC Individual Income Tax (IIT) reform. While the companies and individuals have received more information about the IIT reform, they all have some questions regarding the implementation of specific regulations. On December 22, 2018, these two circulars aref inalized. And after that, the StateAdministration of Taxation (SAT) releases another five circulars listed as below which specifically explains the PRC IIT calculation and filing policies under the new PRC IIT Law.
►Public notice (PN) regarding clarifications on transitional matters concerning tax collection and administration for fully implementing the new IIT Law (SAT PN  No. 56)
►PN regarding the "Operational Measures on the Specific Additional Deductions for Individual Income Tax (IIT) (Trial)" (SAT PN No. 60)
► PN regarding the"Administrative Measures on the With holding and Declaration of IIT (Trial)"(SAT PN  No. 61)
►PN regarding issues related to taxpayers' self-declaration of IIT (SAT PN  No. 62)
►Notice regarding transitional matters related to preferential IIT policies after the revision of the IIT Law (Caishui  No.164)
To assist the companies and individuals to understand the new circulars, we have invited the tax experts from EY China PAS team to provide detailed interpretations on the new circulars and the impacts on companies and individuals.
Please RSVP before 5pm, January 18th at:
Maddalena Di Tommaso at firstname.lastname@example.org or wechat 18840955491
Melody Song at email@example.com or mobile 15242622051