News Snapshot:
Starting 2022, China will roll back tax exemption on some fringe benefits for expatriates (including housing rental, children’s education costs, and language training costs), which is expected to result in larger tax liability for those earning higher incomes. This article with case studies and Q&As helps you understand how serious the tax burden could hike up in 2022 and how to prepare for the policy change. According to theNotice on the Preferential Policy Convergence Problem(Cai Shui [2018] No.164), from January 1, 2022, foreign individuals shall cease to enjoy tax exemption policies for fringe benefits* such as housing expense, language training...
