Some good news…

In 2019 the Central Government announced plans for some major changes in the taxation system that included discontinuation at the end of 2021 of preferential treatment for one time annual bonuses. In addition, 2022 would see the end of tax exemption for benefits (in reality, more akin to tax deductibility for a predetermined percentage of base salary) for foreign workers (such as I) in six major categories – rent, food, home travel, child education, language training, and relocation. Word just came through – appears both will continue until the end of 2023.

Some welcome news to close out 2021.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s