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Corporate
& Personal Income Taxation
There
are many types of taxes in China. The most common types are
as follows:
Corporate Tax
Foreign investment enterprises including equity joint
ventures, cooperative joint ventures, and wholly foreign-owned
enterprises, have to pay a 33% (30% state tax plus 3%
local tax) corporate tax on their profits derived from
operations in China. As from 1st January 2008, the rate
of tax paid by foreign-invested enterprises and Chinese
companies will be 25%. However there are still some execeptions
and exlusions, such as provisions for small low profit
and high technology companies. |
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Personal income tax
Individuals who have resided in China for less than one
year are required to pay personal income tax on income
derived from China. Individuals who have resided in China
for one year or more, are taxed on income from all sources.
Income
is taxed progressively from 5% to 45%. There are nine
tax brackets starting from the income range of RMB0-500
to the maximum of over RMB100,000.
News
July 2007:
Circular
of the Ministry of Finance and the State Administration
of Taxation concerning Lowering the Export Rebate Rates
for Some Commodities
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For
more information or other types of taxes, please
click here
to fill in the enquiry form.
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