NOTICE ON CANCELLATION OF IIT SELF-DECLARATION IN CHINA FOR YEAR 2018 -- China Business -- kaizen
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NOTICE ON CANCELLATION OF IIT SELF-DECLARATION IN CHINA FOR YEAR 2018

In accordance with the old and invalid Individual Income Tax Law of China, its implementation regulations and Notice on Self-Declaration of Individual Income Tax, taxpayers who are obligated to pay tax pursuant to the individual income tax law shall arrange self-declaration of individual income tax with the competent tax authorities from January 1 to March 31 of the following year under any of the following circumstances:

(1) Annual income exceeding RMB120,000;
(2) Income from wages and salaries derived from two or more sources within the territory of China;
(3) Income derived from sources outside the territory of China;
(4) Having obtained taxable income without withholding agents;
(5) Other circumstances prescribed by the state council.

We are glad to inform you that pursuant to the newly revised Individual Income Tax Law of China, starting from January 1, 2019, taxpayers whose annual income above RMB120,000 are no longer required to
arrange annual self-declaration.

However, taxpayers who obtain income from wages and salaries from two or more sources or pay insufficient tax in the year of 2018, shall handle the outstanding tax-related matters in accordance with relevant provisions on self-declaration of annual income above RMB120,000 in the previous year before June 30, 2019.

Taxpayers who derive income from sources outside the territory of China in the year of 2018 shall arrange
self-declaration during the period from March 1 to June 30, 2019. 

It is the liability of each taxpayer to arrange tax declaration on time. Kaizen would like to advise you to arrange the declaration work in advance if you are still required to do the self-declaration. We could also offer tax declaration service. Please feel free to contact us in case you need our professional service. 


If you need any further assistance please kindly log in our official website www.kaizencpa.com or contact our CPA via below information provided.
Email: info@kaizencpa.com, enquiries@kaizencpa.com
Tel: +852 2341 1444
WhatsApp/Line/WeChat: +852 6114 9414, +86 1521 9432 644
Skype: kaizencpa


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