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China’s new income tax laws to bring ‘profound implications’

In June this year, the Chinese government announced much-anticipated revisions to the country's individual income tax laws. KPMG Partner and Senior Advisor Michael Olesnicky says that these new revisions will likely have 'profound implications' within the wealth management community in Asia. Hubbis CEO Michael Stanhope recently spoke with him about these changes, and about what some of their implications will be on Asia's wealth management community and its clients - Chinese residents with offshore wealth structures, as well as expatriates in China.