China will extend preferential income tax policies for foreigners residing in the country to December 31, 2023, the finance ministry said on Friday, as part of measures to ease the burden on taxpayers.
Previously, China said benefits and allowances for foreigners including housing rental and education for their children would cease to be income tax-exempt starting January 1, 2022.
In recent days, the government has pledged to further cut taxes and fees in 2022 to support struggling businesses. China will also extend some favourable income tax policies to ease the burden for middle- and low-income groups.
- Reuters with additional editing by Jim Pollard