BEIJING (Reuters) – China will extend preferential income tax policy for foreign nationals residing in the country through December 31, 2023, the Treasury Department said on Friday, as part of measures to ease taxpayers’ burden.
Previously, China said that benefits and allowances for foreigners, including housing rent and education for their children, will no longer be exempt from income tax as of January 1, 2022.
In the past few days, the government has pledged to further cut taxes and fees in 2022 to help troubled businesses. China will also expand some favorable income tax policies to ease the burden on middle and low income groups.
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