China: 20% Tax on Dividends and Remuneration of Foreign Citizens
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5 Articles
On September 1st, the Ministry of Finance and the State Administration of Taxation of the People's Republic of China jointly issued an announcement: foreign individuals receiving dividends from foreign-invested enterprises will be subject to individual income tax at a rate of 20%. This effectively abolished the 32-year-old tax exemption policy for foreign individuals' dividends. However, the question remains: in recent years, the CCP has been ad…
The measure was activated the day before yesterday, Tuesday, according to a joint announcement by the Ministries of Finance and the State Tax Administration.
Beijing has imposed a 20% tax on personal income from dividends and additional remuneration received by foreign citizens from businesses operating in the country.
The 30-year tax exemption for foreigners is over.
Beijing has reintroduced a 20% tax on dividends and additional fees received by foreigners from foreign companies in China, ending an exemption that had been in place since 1994 to boost investment.
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