Russell Brown OBE Quoted by Caixin Global on New Income Tax Law
Russell Brown, Managing Partner of Lehmanbrown International Accountants has been quoted by Doug Young in Caixin Global.
The article mentioned that the New Income Tax Law seem to have potentially large implications for both individuals and businesses, especially those employing foreigners. According to Russell Brown, it appears that foreigners will be able to keep some special perks such as tax-free housing allowances and bonuses that are subject to lower tax rates than the rest of their income. He pointed out that those special treatments are part of laws specific to expats that are separate from the earlier income tax law that will soon become obsolete. It remains to be seen if those separate laws will ultimately get negated as well, Brown said. But for now at least, many are assuming those older laws giving special deductions to foreigners will remain intact.
If you are interested in the article: New Income Tax Law Could Roll Back Welcome Mat for Expats, please click the link to read the article https://www.caixinglobal.com/2018-10-10/new-income-tax-law-could-roll-back-welcome-mat-for-expats-101333021.html