Starting from January 1, 2019, the basic pension insurance, basic medical insurance, unemployment insurance, injury insurance, maternity insurance will be collected by tax authorities. On the other hand, the government bodies are preparing to decrease the insurance rates to decrease the burden for companies.
Lee & Lee Associates Insights:
When tax authorities take over the responsibility for collecting social insurances, the risks for non-payment and under payment of social insurance become higher than before. For all companies, it would be a complex and challenging task to comply with the social insurance laws on the one hand and legally decrease the social insurance burden via planning on the other hand.
