China Extends Tax-Exemptions & Backtracks on Tax Avoidance Measures

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After receiving many complaints, the government of the People’s Republic of China made some noteworthy compromises in the personal income tax reform scheme. The finalised version effectively extends the tax exemption timeline for non-domiciled residents from 5 financial years to 6.

Detailed guidance on the anti-avoidance regulations was allegedly added to the report only to be erased from the finalised guidelines that were supposed to reduce and deter anti-tax avoidance practices in the dynasty.