Han Ximin, Chen Ziying,

Shen Xiaoqian

ximhan@126.com

A TAXATION seminar to help expats gain a better understanding of tax policies and handle the procedures involved in the annual final settlement was held at the Shekou Management and Service Center for Expats (SMSCE) over the weekend.

In the session titled “Guidance for Expats’ Annual Final Individual Income Tax Settlement,” Olivia Li, a consultant from ZIX Consulting Co. Ltd., explained the policies regarding the annual final individual income tax settlement and answered questions such as if they need to pay tax on individual income they earned overseas and how to calculate the tax.

They were also guided on how to settle the tax by the “Individual Income Tax” app with step-by-step instructions, details about account registration, resident taxpayer identification, the kinds of income involved and the corresponding calculation.

The seminar, both online and on site, lasted about three hours and attracted 100 participants.

“The seminar has proven to be an effective and feasible way to satisfy the real needs of foreign-related enterprises and foreign residents. It not only helps foreign-related enterprises and foreign residents gain a better understanding of tax policies and guides them to make a truthful tax declaration, but also assists in the implementation of tax policies related to foreign residents,” Rita Yang, director of SMSCE, said in an interview yesterday.

Since the new Chinese individual income law was implemented Jan. 1, 2019, there have been some changes to tax calculation for expats either on salaries or annual bonuses.

The annual final tax settlement of the comprehensive individual income for the year 2019 will be closed June 30, 2020.