China overhauls its individual income tax law

China has enacted its recently revised individual income tax law, a big overhaul of the law over more than 30 years from its inception.

Some of the changes will be set to have an impact on you, either foreigners or oversea Chinese.

1.  New Definition of Tax Residents

In the prior version of the IIT law, a tax resident is one who has domicile within China or otherwise…