Notice on the Application of IIT Deductions and Tax Rates in Fourth Quarter of 2018 (Caishui [2018] No. 98)

7 September 2018

Following the amendment of the Individual Income Tax ("IIT") Law, the standard basic deduction for comprehensive income will be increased from RMB 3,500 / month to RMB 5,000 / month. For the wage and salary income received by a taxpayer on October 1, 2018 and thereafter, the deduction of RMB 5,000 / month shall applies and IIT shall be calculated based on the IIT rate attached in the notice.

Back to previous