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With 2020 marking the first-time taxpayers have to handle the annual settlement in accordance with the new law. The Benelux Chamber of Commerce is helping our members to navigate this complex process smoothly by proposition a very accurate and personalised webinar to make this tax process a success.
We are inviting R&P Lawyers Director of Corporate Services Ann Sophie de Meester and Dr. Richard van Ostende, UGSM-Monarch Business School, to share detailed instructions on how to make the annual tax declaration in China.
Starting from the fiscal year 2019 both local Chinese and foreign nationals employed in China are required to declare their annual individual income tax. According to the provisions of the IIT Law, taxpayers are required to annually calculate their final income tax payable and must handle their annual settlement.
Between 1 March and 30 June 2020 annual settlement must be performed for the period of 1 January to 31 December 2019.
Our speakers will discuss what comprehensive income and annual settlement is and to whom it applies as well as how taxation of resident individuals is calculated. In addition, they will address the different tax deductions available and how to optimise your personal income in China.
