The State Taxation Administration (STA) issued on February 1, 2024, the Announcement on Matters concerning the Settlement and Payment of Individual Income Tax ("IIT") on Comprehensive Incomes on a Consolidated Basis in 2023, which consists of a total of 12 articles.
Compared with the documents of previous years, the Announcement for 2023 has made four changes:
- extending the confirmation time for settlement agents and no longer requiring them to confirm their entrustment relationship with entrusting entities before April 30;
- specifying the method, venue and time of the consolidated declaration of multiple equity incentives;
- clarifying the provisions on the service of relevant documents for settlement regarding taxpayers who have not fully declared and paid taxes; and
- adjusting the starting time of making appointment for tax handling and settlement to February 21.
Tax authorities will also strengthen regulatory reminder issuance this year, focusing on taxpayers who wrongly declare special additional deductions, as well as taxpayers who have not declared or fully paid taxes.
Source: Announcement of the State Taxation Administration