China’s plan to end tax breaks for expats could see more than a third of US firms leave Shanghai, AmCham says

Apr 1, 2021 | INVESTING

More than a third of multinational firms in Shanghai are considering moving all or part of their operation out of China or to another Chinese city when tax exemptions on allowances for foreign employees expire next year, a survey released by a US business lobby group on Thursday showed.At the end of 2018, Beijing said tax breaks for expat allowances, including those available for language training, housing, and children’s education would be phased out at the beginning of 2022 after a three-year…

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