China Company Taxation Overview
Update time：2018-6-6 14:44:49 source：Tannet Views：659
China company taxation is one issue that almost all investors have interests in, so it is quite necessary to have a basic understanding for it. Taxation in China includes taxation on turnover (including value added tax, consumption tax, and customs duty), taxation on profits/income (including corporate income tax for enterprises with foreign investment and foreign enterprises, and individual income tax), taxation on property and deeds (including real estate tax, contract tax and stamp duty), and taxation on natural resources (including resources tax), which are respectively in relation to different objects of taxation.
Major Taxation in Mainland China, are as follows:
Corporate Income Tax;
Value Added Tax;
Consumption Tax;
Customs Duty;
Individual Income Tax;
Real Estate Tax;
Land Value Added Tax;
Stamp Duty.
Tannet Services Include:
Tax Declaration;
Tax Planning;
Annual Tax Advisory;
Application and Advisory for Tax Preferences;
Individual Income Tax Declaration for Foreigners;
Customs Duty and Goods Tax Advisory;
Consultancy of the Latest China Taxation rules and regulations.
China company accounting, bookkeeping and tax filing
1. A China company is required to file taxes after registration. If not filing taxes in time, penalties from tax bureau will be caused. Moreover, it will bring negative records to the credit of the clients.
2. China company tax filing hints: The company should file taxes monthly, quarterly and yearly according to different type of taxes. The main types of taxes for a China company include Business income tax, VAT, Sales tax.
3. Fapiao and Fapiao stamp: In China, official invoices are made by tax bureau, which is called Fapiao. The company should apply for Fapiaos from tax bureau and have a Fapiao stamp on it when issuing the Fapiao.
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