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Imprortant News: Expats told to report tax 2008.1.08

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Expats told to report tax

FOREIGNERS earning more than 120,000 yuan (US$16,439) annually in Shenzhen are required to report their income to tax authorities by March 31.

Those who have questions relating to the declaring of taxes can call the taxation bureau hotline 123662, or visit agents for help.

Those who fail to declare their income tax before the deadline will be fined between 2,000 yuan and 10,000 yuan. Those who attempt to falsify their incomes will be severely punished.
Read More... http://szdaily.sznews.com/html/2008-01/08/content_20103.htm

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Comments

My former employer in

My former employer in Shenzhen has claimed utter ignorance concerning government issued taxation documents. Am I supposed to estimate last year's income and the tax I paid on it??

There seem to be some

There seem to be some confusion with the "exemption" from reporting rule. My understanding is that to be deemed "Non Resident" and hence do NOT have to report, one needs to be absent for 30 consecutive days or 90 cumulative days in one (1) calendar year, each and every year. Another view is that this absenteism (30 days consecutive or 90 days cumulative in one (1) calendar year)is only required once every five (5) years to qualify for "Non Resident" for tax reporting purposes.
Any experts out there who can clarify this.

There seem to be some

There seem to be some confusion with the "exemption" from reporting rule. My understanding is that to be deemed "Non Resident" and hence do NOT have to report, one needs to be absent for 30 consecutive days or 90 cumulative days in one (1) calendar year, each and every year. Another view is that this absenteism (30 days consecutive or 90 days cumulative in one (1) calendar year)is only required once every five (5) years to qualify for "Non Resident" for tax reporting purposes.
Any experts out there who can clarify this.

I have received a notice

I have received a notice about this from my accounting company, which is a large international firm. Their information is usually highly accurate. There is one point that is in their notice, but was not in the Shenzhen news article.

"Foreigners who were physical outside of China for atleast 31 continous days or 91 cummlative days do not have to file the return."

This is the national rule, but local tax offices might have their own policies, so it would be best to check with your accountant in Shenzhen.

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