Why China’s high-income earners dread the new tax law that will come into effect in January

Concerns grow over policies on bonuses and the 45 per cent levy on high-income individuals. Frank Gu, a United States-educated legal counsel at a multinational company in Shanghai, is closely following the debate over China’s new individual tax code. Earning 1 million yuan (US$151,100) annually, the 37-year-old is concerned that he may fall foul of China’s most dramatic … http://bit.ly/2NlQ9l6

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