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WordUp
Joined: 05 Jan 2006 Posts: 131
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Posted: Mon Apr 03, 2006 4:17 am Post subject: Income-tax threshold raised for foreigners |
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Hi everyone. Not sure if you were all aware of this but I just read this off the journeyeast web page but I thought it might be useful information for those of us who are making more than 4,000 per month and getting taxed on it.
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If your school is taxing you at the old rate above 4,000, you would do well to remind them of the new law that took effect January 01, 2006. It could save you a few hundred RMB each month and thousands over the course of your contract. -journeyeast.org http://journeyeast.org/News/IncomeTaxForeigners.asp |
http://journeyeast.org/News/IncomeTaxForeigners.asp
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clark.w.griswald
Joined: 06 Dec 2004 Posts: 2056
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Posted: Mon Apr 03, 2006 5:38 am Post subject: |
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This was discussed sometime ago on this board but is indeed good news. It would have been very easy for the government to have excluded foreigners from this considering the additional tax concessions that we already receive, but they didn�t exclude us and I think that they deserve kudos for this.
Before:
Previously everyone had a tax free threshold of RMB800 per month. Any money earned over that was taxed.
Foreigners received an additional threshold of RMB3,200 per month to take into account the costs of coming here etc. Therefore foreigners previously had a tax free threshold of RMB4,000 per month.
Now:
The tax free threshold for everyone has been raised by RMB800 to RMB1,600 per month.
Subsequently foreigners now have a tax free threshold of RMB4,800 per month. This is worth mentioning to your employers as they are quite likely unaware of this fact. |
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vikdk
Joined: 25 Jun 2003 Posts: 1676
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Posted: Mon Apr 03, 2006 5:47 am Post subject: |
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Now clark is supporting the CPC - well done mate - yeah lets say thanks for all they doing for this country  |
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