The State Taxation Administration released on December 31, 2019 the Announcement about Final Settlement and Payment of Individual Income Tax on Comprehensive Income in 2019.
The first article explained the concept and content of the annual settlement and payment of individual income tax. According to the second article, taxpayers will not have to make the annual tax settlement and payment as long as their annual income is no more than 120,000 yuan; if taxpayers' additional tax payment is no more than 400 yuan, they will not have to make the annual tax settlement and payment. According to the fifth article, the tax settlement and payment for 2019 should be handled from March 1, 2020 to June 30, 2020. If taxpayers have no permanent residence in China and plan to leave the country before March 1, 2020, they can make tax arrangement before departure.