solipretty.blogg.se - Preferential treatment law

#PREFERENTIAL TREATMENT LAW PROFESSIONAL#

Companies and individuals interested in learning more about the latest developments and hot topics are welcome to get in touch with us.ġ Caishui No. We will monitor the latest developments in preferential IIT policies and discuss policy trends and practical cases with local tax authorities.

#PREFERENTIAL TREATMENT LAW PROFESSIONAL#

In view of the complexity and technicality of tax-related matters, companies and individual taxpayers may also consider seeking support from professional institutions to make sure that they fulfil their obligations accurately and in a timely manner and avail themselves of the preferential policies they are eligible for. Review and assess eligibility for existing financial subsidy programmes (such as preferential IIT policies for attracting highly-skilled talent to work in the Greater Bay Area, Shanghai Free Trade Zone Lingang New Area, and Hainan Free Trade Port) and apply accordingly to effectively minimise financial burden which may arise from cessation of preferential IIT policy.Communicate with employees in a timely manner on regulatory changes, potential financial impact to foster workforce stability.

Perform a cost analysis based on policy updates, review and adjust the company policies to facilitate talent attraction and retention.

Keep abreast of policy updates to help ensure appropriate company and personal budgeting are performed on a timely basis.

While KPMG in the PRC anticipates that the Chinese authorities will announce policies or guidance in relation to the tax treatment of certain employment remuneration items discussed in this article in the coming months, we recommend that companies and individual taxpayers consider the following well in advance in preparation for tax year 2022: