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Save the dateSeptember 20, 201812 PM - 1:45 PM Add to Calendar
Venue Location
Venue Location

The American Chamber of Commerce in HK

1904 Bank of America Tower, 12 Harcourt Road
Central, Hong Kong

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Organizer
Organizer
Organizer:
Contact Person: Natalie Yu
Details
Details

A draft law (seventh draft amendments to the PRC individual income tax (IIT) law) containing broad changes to the IIT system was submitted to the Standing Committee of the National People's Congress for deliberation on June 19, 2018 and released to the public for consultation on June 29, 2018. This marks a significant milestone to the IIT reform.


What is changing?

The seventh draft amendments aim to promote social fairness and justice by introducing a fundamental change to the definition of resident, the consolidation of various categories of income, the introduction of more itemized deductions, anti-avoidance rules and new rules for tax compliance, collection and filing obligations.


What is the impact?

Compared with the existing IIT rule, the proposed new tax rule and the consolidated new tax reporting approach will enhance both the employer's and employee's tax reporting systems and bring the filing and collection to a different level.


To respond to the proposed changes, enterprises need to review their current supports on tax filings, mobility program for international employees and measures for managing the compliance risk.


The draft would also introduce anti-avoidance rules which allow the Chinese tax authorities to initiate tax adjustments where the arrangement/transaction lacks a reasonable commercial justification.


If legislative authorities pass the draft, the new rules become effective January 1, 2019. Are you ready for these changes?


First 15-20 minutes is for networking

Sandwiches and beverages included



Hosted by the Taxation Committee

Speaker
Speaker
  • Ellen Tong (Director, Global Employer Services of Deloitte Touche Tohmatsu)

    Ellen Tong

    Director, Global Employer Services of Deloitte Touche Tohmatsu

Tickets
Tickets

Member

Member Price HKD 300

Non-member

HKD 450
Cancellation Policy
Cancellation Policy
•    All cancellations must be notified in writing at least two working days prior to the event, or six working days prior to the conference. No-shows will be charged
•    When Typhoon 8 (or above) or Black Rainstorm Signal is hoisted, all events will be cancelled