By continuing you agree to eChinacities's Privacy Policy .
Sign up with Google
Sign up with Facebook
Q: Is the new Social Security law a way by the government to tax people be foreigners or Chinese?
It looks like China is finding a new way to tax people and that foreigners are a good scapegoat to get more money?
I would be curious to know if foreign or Chinese companies will be more and more reluctant to hire foreigners because of the hire costs.
Would foreigners also be less willing to come to work or keep working in China if they are taxed so much?
12 years 29 weeks ago in Business & Jobs - China
Well unless they change it, it will cap out at three times the average monthly salary of the area and that was supposed to be split between the company and employee (70/30 or something like that). So for the average expat the makes well over that, it's not going to break anyone's pockets (just be a pain in the ass). But it might slow down companies willingness to hire no qualified foreigners.
Agree some companies might not like having to spend more to hire an Expat, but, if my pay drops a third because of it then maybe it is not worth it, as I can not see the return. Some are saying you have to be in it for 15 years before you are elegible for the pension? not sure if this is true, also if you return to your country to retire and receive it than your country will reduce your pension!
There is too much talk and not enough that is said by the Government about this pension plan.
I think we need (as expats and workers here) to know what is what and not hearsay on forums and from Bosses etc who don't know. I am not complaining, I just think the discussion has to be put into actual factual information
I love teaching here but I can not see Colleges and Universities having to pay so much more to have us
Something will break and someone will loose
DaBen:
I agree, I've actually spend days trying to find out whatever I could about all of this on the web (so many sites were complete trash that I didn't even waste my time with the sites in Chinese). So I might be missing something, but every thing I've read states that the law is still written in very vague terms so the local areas can decide their own actions (and of course so it can be changed to be in their favor later on). So if you find some actual facts that are more than just "what my boss told me" please let me know.
