The Chinese government has announced employee benefits such as incentive travel will be subject to…
The Chinese government has announced employee benefits such as incentive travel will be subject to taxation.
The announcement issued by the Finance Ministry and State Administration of Taxation said in business activities, travelling associated with training sessions, seminars and fact-finding tours offered by businesses and organisations for outstanding employees should be levied as taxable employment income.
The announcement has worried business owners who feel it will deter clients who would normally give cash rewards or gifts as a convenient way to avoid tax issues, from spending generously on parties and incentive programmes as employee rewards.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
