Leo, let's discuss taxation, retirement, and social rights for long-term immigrants in China and Israel.
Agreed. China and Israel present interesting contrasts.
Let's begin with taxation in China. What are the implications for long-term immigrants?
Long-term residents in China are generally taxed on their worldwide income. It's a progressive system, so higher earnings mean higher tax rates.
So, all income is taxable, regardless of source?
Essentially, yes.
How does Israel handle taxation for long-term immigrants?
Israel offers tax benefits to new immigrants for a specific period, aiming to attract skilled workers. These benefits often relate to foreign income.
A kind of tax "honeymoon" period?
Precisely.
Now, regarding retirement benefits. What about China's provisions for long-term expats?
Access to China's social security system isn't always straightforward for foreigners. Participation is usually required for future retirement payouts.
And what if someone leaves before retirement?
Retrieving contributions can be complex, with potential restrictions.
What about Israel's retirement system for long-term immigrants?
Israel has a robust social security system accessible to long-term residents who have contributed. Mandatory pension contributions are also common.
What if contributions are insufficient?
Individuals would then rely on personal savings or other retirement plans. The government may offer minimal support.
Let's move on to social rights. What social safety nets exist in China for long-term immigrants?
Access to healthcare and unemployment benefits can vary greatly by region and employment status. Eligibility can be challenging to determine.
What about Israel's social safety net?
Israel offers a comprehensive social welfare system covering healthcare, unemployment, and disability benefits for long-term residents.
Is accessing these benefits straightforward?
While a safety net exists, navigating the bureaucracy, paperwork, and eligibility requirements takes time.
In summary, China's system is more complex, while Israel offers a broader, albeit bureaucratic, safety net.
That's a fair assessment. Thorough research and planning are crucial for immigrants in both countries.
Excellent points, Leo. Thank you.
My pleasure.