ENTERPRISE
INCOME TAX AND LOCAL SUBTAX
Enterprise income tax and local sub tax
shall be levied on the income derived from
production, business and other sources of
any joint ventures with foreign investment.
For exemptions and reductions of the income
tax and local sub tax, please refer to"
Preferential Policies".
VALUE-ADDED TAX
VAT shall be levied at a rate of 17% or
13% according to its business scope on the
sale of products, processing, fixing and
repairing, labor service and imported goods.
The tax of added value levied on the exported
product can be refunded according to relevant
regulations.
BUSINESS TAX
The business tax shall be levied at rates
of 3, 5 % or 5 %-20 % according to its business
scope, on transportation, construction,
finance, insurance, post and telecommunications,
recreation and sports, service, transfer
of intangible properties, and fixed assets
of any joint-venture.
CONSUMPTION TAX
The tax shall be levied according to the
stipulated tax rates, on production, manufacture
and importation of cigarettes, wine, cosmetics,
articles for skin and hair protection, valuable
jewelry, diesel oil, gasoline, firecrackers
and fireworks, motorcycles and cars.
CUSTOMS DUTIES
Customs duties shall be levied on imported
or exported goods according to customs tariffs.
For exemptions and reductions of the customs
duties, please refer to the "Preferential
Policies".
REAL ESTATE TAX
The property owners are required to pay
annual property tax at a rate of 1.2กใ/ base
on 70% of original value of the property.
INDIVIDUAL INCOME TAX
The individual income tax must be paid
by any person in joint ventures with foreign
investment, either foreign or Chinese,
on his or her income. For foreigners,
a monthly income of over RMB 4,000, for
Chinese, a monthly income of over RMB
800, is taxable at the rates of 5 % to
45%.
LAND VALUE-ADDED TAX
Natural resources tax and land deed tax
shall be levied according to relevant
regulations.
VEHICLE AND VESSEL LICENSE PLATE TAX
This tax is levied on all the vehicles owned
or used by foreign-invested enterprises
in accordance with Provision of Vehicle
and Vessel License Plate Tax. The tariff
is as follows: passenger vehicles at RMB
180-300/year; trucks at RMB 60/ton/year.
Temporary License: Take 10 days as one period.
In the period, 3 % tax of its kind should
be paid. Less than 10 days should be regarded
as 10 days.
STAMP DUTY
This tax is levied on all transaction of
purchase, sales, processing, lump work,
property leasing, goods transportation,
warehouse storage, loan, property insurance,
technology contracts and property transfer
documents, business account books, royalties
and licenses. The maximum rate of Stamp
Duty is 1 %o and the minimum is 0.05%o and
business account books should be collected
on revenue stamp RMB 5 for each copy (books
for recording capital excluded). |
