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北京互动吧 互动吧 北京互联网 互动吧 北京人工智能 互动吧 Individual income tax planning and risk of expatriates working in CHA
互动吧-Individual income tax planning and risk of expatriates working in CHA

Individual income tax planning and risk of expatriates working in CHA

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前言

There are significant changes in China IIT in 2019 which significantly affect HR of companies and foreigners working in China.  Tax bureaus and State Administration of Taxation have organised a lot of training programs, videos and mobile APP to ensure the IIT reform can smoothly move forward.

Facing the big changes but the rules were only issued in December 2018, what are the risks and possible planning ideas which companies can consider?  In the big data environment, which commonly used methods in the past can’t be used now? Who will be penalized for poor tax planning?

The focus of this seminar is risk and planning and the tax filing and using of APP will not be covered.

Case study will be used to explain the rules and regulations.

 

您将收获

• The latest trends in IIT enforcement on expatriates working in China

• 12 vivid practical cases analysis to provide best solutions for IIT Planning

• Open discussion mode and inspiring interaction


适合对象:

• Senior Management

• Expatriates and Second Staff

• HRD and HRM

• Tax Director and Manager


课程大纲

Case 1

Mr Smith from Germany has worked in Shanghai since 2003.  His wife and children come together with him.  He acquired an apartment in Shanghai.  He has not concerned about the China worldwide tax on foreign income and tax break before.

He is the senior executive of the Chinese headquarters of a US listed group.  He has shares of the US listed company and property in Germany for his parents.

Analysis and discussion

• According to IIT law, will he be considered as having domicile in China and hence, subject to worldwide China tax on his foreign income?

• How to prove that he does not have a China domicile?

• He has never arranged for any tax break before.  Can he arrange for tax break in 2019 to avoid his foreign income being taxable?

• He considers selling his Shanghai apartment.  How can he remit the money legally to overseas?


Case 2

Mr Lin is a US citizen working in China and he got the China Green Card and with his family in Shenzhen.  The group was listed in Hong Kong and he has stock option and also shares of the group.

Analysis and discussion

• US citizen has to pay US tax on worldwide income.  A China tax resident with domicile has to pay China tax on worldwide income.  Mr Lin has received income from the HK listed company.  Which country shall he pay his tax?

• How should stock option be taxed under the new IIT law in 2019?


Case 3

Ms Huang with Chinese identity card obtained the Hong Kong Identity Card (non-permanent) seven years ago.  She works and lives in Beijing.  She has bank accounts, insurance policies, securities account, property in HK and also used BVI company to hold shares of subsidiaries of overseas and China.  She heard that an overseas trust can help avoiding China tax and she considered executing.

Analysis and discussion

• Is it still workable to using BVI company as fire wall under the 2019 IIT law?

• BVI company has not distributed any dividend to her and the plan is to wait until she is no longer a China tax resident.  Can this method still workable?

• She has received an email from the bank in HK asking about her tax residence.  How should she reply?

• What is the information on her foreign assets and income be transferred to China State Administration of Taxation via the CRS / Automatic Exchange of Financial Account Information?

• Even though the China tax bureau does not know, shall Ms Huang report her foreign income to the tax bureau?  What are the penalty on non-reporting?

• She is considering giving up her Chinese citizenship.  What are the tax procedures from 2019 onward?

• If she does not give up her Chinese citizenship, how can she become a non-China tax resident?

• She is considering transferring her foreign assets to a trust.  Will this trigger any China tax?

• Can her avoid CRS information exchange under the trust?


Case 4

Mr Tan, a Singaporean, who is the CEO of the regional headquarters.  He stays in China for around 20 days in a month and the other days in Hong Kong and Singapore.  The Group pays him RMB20,000 in China and USD10,000 in overseas.  Beijing company withhold IIT based on the RMB20,000.

Analysis and discussion

• Is the USD10,000 received in overseas taxable in China?

• If it is taxable, how to calculate?

• If it is taxable and Beijing company only withhold IIT based on RMB20,000, will it be penalized?

• Under the 2019 IIT law, Mr Tan has to file the annual IIT returns.  If he did not declare the foreign salary, will he be penalized?


Case 5

The legal representative of Shanghai, Mr Hans comes to China for around 50 days in a year.  The Group CFO, Ms Wong does not have any positions in China comes to work for about 100 days and another 100 days as volunteers and for leisure.  Both of them did not get any salaries in China.

Analysis and discussion

• Is Mr Hans subject to China IIT?

• Will Ms Wong become a China tax resident under the 2019 IIT law? How shall she report her IIT?

• Is Shanghai company liable to withhold IIT for Ms Wong?  Will there be any penalty for not withholding IIT?



Case 6

Company give cash coupons and mooncake coupons to staff and did not withhold IIT on such amounts.

Analysis and discussion

• During tax audit, it was discovered by the tax bureau that taxable incomes were not reported.  How will the company be penalized?

• The employees have not considered such amounts as taxable income, will they be penalized too?


Case 7

Company will pay annual bonus to employees in 2019 for the performance assessment of 2018.  According to the transitional period treatment, either the original method or the new comprehensive income method can be used.

Analysis and discussion

• Who should use the old method? Who should use the new comprehensive income method?


Case 8

The company paid for commercial insurance, liability insurance and travel insurance for staff on business trips.  The Group also paid overseas mandatory social security contribution for expatriates working in China.

Analysis and discussion

• Which types of insurances are subject to IIT? Which types are not taxable?

• How to book the insurances in the accounts so that the amount can be deductible for enterprise income tax?

• Are the mandatory social security contributions in foreign countries taxable in China? Can the employee’s contribution be tax exempt?


Case 9

Mr Zhu has Chinese identity card.  The Group paid him salaries in China and director’s fee in Hong Kong.

Analysis and discussion

• According to HK tax ordinance, Mr Zhu has to pay HK tax on his director’s fee from HK company.  If so, is this not taxable in China?

• If the director’s fee is also taxable, how to calculate and pay China IIT?

• Does the Chinese employer has withholding obligation on the overseas director’s fee?


Case 10

A foreign lawyer of a multinational law firm in Beijing who received overseas profit was required to pay back IIT of RMB8 million. 

Analysis and discussion

• Why the overseas dividend becomes taxable in China?


Case 11

Singapore headquarters has seconded a number of senior executives to work in China.  Salaries are partly paid directly by the Chinese subsidiaries and partly paid by the Singapore headquarters on behalf of Chinese subsidiaries.  China IIT has been paid based on full salaries.  The Singapore headquarters plans to charge back the salaries from the Chinese subsidiaries.

Analysis and discussion

• What is meant by “salaries paid on behalf”?  Why the amount cannot be remitted to overseas even though IIT has been fully paid?

• Why only with secondment letter can create problems?

• What are the documents to be provided in order to remit the money out from China?

• Why the amount cannot be remitted if that is over 12 months?  Is there any special case which can by-pass such restriction?


Case 12

Mr Zhang is an IT expert.  Individual service income can be taxed at a lower rate under the comprehensive income from 2019 onward.

Analysis and discussion

• What are the differences between employment and individual service?

• How should he select?


Other issues

• The common questions on six specific additional deductions

• The issues to be noted on provisional withholding

• The treatments and options for transitional period


讲师介绍 

张少云

Miss Bolivia Cheung, 

• Founder and Director, BC Training Co Ltd (FCCA and FCPA)

• Bolivia has over 20 years of experience on China tax and business advisory.  

• She joined KPMG in 1996, promoted to partnership in 8 years and retired from a tax partner in 2011 after working in KPMG for 15 years. She frees up herself for training, education, free-lance consultancy projects and charitable activities, and completed the MA in Practical Philosophy, her second master degree.

• Bolivia has stationed in Guangzhou and Shanghai for over 8 years which means a lot of practical experiences in dealing with problems and issues of taxpayers.


时间:2019年2月27日 英文讲授

地址:上海市浦东新区张杨路777号 上海锦江汤臣洲际大酒店

课费:3980 元/人  (费用包括会议资料/茶歇/午餐)

咨询联系人:

Jolin

QQ/微信:3389709885

Tel:13764181176

Mail:sxevent@sx-vip.net

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