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On 19 June 2018, during the third session of the Thirteenth National People's Congress of the People's Republic of China ("PRC"), the Minister of Finance outlined the proposed amendments to PRC Individual Income Tax ("IIT") rules. On 29 June 2018, the National People's Congress released the full text of the draft amendments to the PRC IIT law on its official website seeking consultation from the public.

The proposed amendments to the PRC IIT Law have drawn considerable attention from the public and mark an important step forward on the IIT reform. The reform represents a fundamental change to the PRC IIT regime and details of the implementation rules have yet to be released.

Highlights of the Draft Amendments

  • New Tax Residence Rules
  • Consolidation of tax categories and the introduction of "Comprehensive Income"
  • Adjusted tax rates and brackets
  • Increased monthly standard deduction for Comprehensive Income
  • Introduction of additional itemized deductions
  • Introduction of general anti-avoidance rules (GAAR)
  • Tightened PRC IIT compliance and enforcement

Impacts of Reform

The revised PRC IIT law will take effect from 1 January 2019. The reform will likely have the following impacts:

  • Reduction of tax burden for the working class;
  • Expansion of the taxation scope of foreign individuals in China, and the associated costs to their onshore and offshore employers;
  • High net worth individuals' global investment strategy and the relevant tax compliance costs

In view of the potential impacts of the PRC IIT Reform on enterprises and individuals working in China, KPMG Shanghai Global Mobility Services team will lead a session to discuss the following:

  • Explanation of the Draft Amendments
  • Potential impacts of the reform on the working class, expatriates in China, high net worth individuals, onshore and offshore employers.
  • Challenges faced by individual taxpayers as well as enterprises and what they can do to prepare for the upcoming changes.
  • Questions and answers session


09:00 Registration & Networking

09:15 Welcome Remarks

09:20 Presentation

10:00 Audience Q&A

10:30 Session Ends



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Standard Price RMB 300
Door Price RMB 300