China Annual Tax Exemption Update Effective 1ST JAN 2021
(Doc ID 2745210.1)
Last updated on FEBRUARY 03, 2021
Applies to:Oracle HRMS (China) - Version 12.1.3 and later
Information in this document applies to any platform.
As China government recently updated on Tax Law starting 01-JAN-2021, if employees who worked at one company for the entire past financial year and the company reported the Tax for the employees for the whole financial year, and their Incoming is less than 60,000 RMB, then the Tax Exemption is 60,000 RMB directly.
China legislative changes:
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