In this session we will zoom in on two legal aspects that affect foreigners and foreign companies directly, namely Cybersecurity in China and the Individual Income Tax (IIT) Implementation as per 2020. With the increased usage of digital technologies and data storage, comes along intellectual property and data security conflicts. Many countries have published regulations or laws regarding to data security and privacy, such as GDPR, China Cybersecurity Law and Personal Information Security Specification. How does China's Cybersecurity Law affect your company and its data safety? Furthermore, what can you expect for next year's first annual IIT examination?
Join us now for a discussion on Data Security & Big Data issues in China as well as the recent IIT regulations and what to expect in 2020.
Implementation of Cybersecurity Law and the subsequent regulations has significant impact on the business community. It is far-reaching that almost all industries and all entities involving obtaining, processing and transfer of personal information are impacted. In the recent two years business entities have witnessed increasingly rigid implementation of cybersecurity and personal information protection by the regulatory authorities. Lawyer and Partner Lisa Li from East & Concord Partners Shanghai will talk about the topic of Cybersecurity and Personal Information Protection in China.
Key points to be discussed:
(2) Framework of PRC Cybersecurity Law
(3) Personal Information Protection
(4) Risk prevention/mitigation for obtaining, using, processing and sharing of "Big Data"
(5) Cross-border transfer of data
Individual Income Tax
In 2018, China government issued many new tax regulations and the content covered many tax items. Among them, the most noticeable has been the individual income tax law update. The new IIT law has been taken into effect from Jan. 1st, 2019, and it has been implemented for almost one year and it seems that everything goes very well.
Nevertheless, how has the new IIT Law influenced foreign companies and foreign individuals in China now and what will be changed in the future? What beneficial policies the government has issued in order to keep foreign talents? What should we expected in next year's first IIT annual examination? What information will be exchanged based on the Common Reporting Standars (CRS)?
The industry expert from Lee & Lee Associates, Sophie Tian, shall share her professional experiences with you to let you learn more about the IIT implementation with real life case studies.
Key points to be discussed:
(1) What are the beneficial policies issued for foreign individuals under the new IIT Law?
(2) What have been the practical implications of the IIT? How has it affected foreigners and WFOE's? Case study on real life examples.
(3) What should we prepare for next year's first annual IIT examination?
(4) What we should know about CRS?
This event is supported by theDesk, Epermarket, Olmeca and MexCham. Join us now for this legal session!
Partner & Lawyer at East & Concord Partners Shanghai
Consultant at Lee & Lee
1M/M, Main Building, Phase IV, Bridge 8, 457 Jumen Road, Shanghai