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CHINA
CHINA: Per the SCMP: "China's tax authorities are tightening personal income tax
law by extending the dragnet to income earned globally, with employees of
state-owned enterprises based in Hong Kong first to feel the pinch, according to
people involved in the matter. SOE workers hired in the mainland and expatriated
to the city received a directive this week to declare their 2019 salaries and
make up any shortfall caused by the different tax rates in the two regions, they
said, declining to be identified because of the sensitivity surrounding the
matter."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com