In China, the Corporate Income tax rate is a tax collected from companies. Its amount is based on the net income companies obtain while exercising their business activity, normally during one business year. The benchmark we use refers to the highest rate for Corporate Income. Revenues from the...
For residence individuals, including foreign individuals who meet certain conditions, if they choose to have their one-off bonus taxed as part of their comprehensive income for the year, the following tax rate table shall be applied to calculate their corresponding IIT. 选择不并入当年综合所得,适用...
In other words, the annual one-time bonus will be treated as part of the tax resident’s comprehensive income. The applicable tax rate and quick deduction can be adopted from the Annual Comprehensive Income Tax Rate Table (“yearly tax rates table”) after the annual taxable income amount is...
Taxable labour service income (CNY) Provisional withholding tax rate (%) 0 to 20,000 20 Over 20,000 to 50,000 30 Over 50,000 40 Actual tax withholding on employment income, remuneration for labour services, author’s remuneration, and royalties paid to non-residents Payer of employment incom...
The Gross Domestic Product (GDP) in China expanded 4.5 % YoY in Mar 2023, following a growth of 2.9 % in the previous quarter. See the table below for more data.Last Previous Min Max Unit Frequency Range 4.5 Mar 2023 2.9 Dec 2022 -6.9 Mar 2020 18.7 Mar 2021 % quarterly Mar 1992 ...
Under the CIT law, the standard tax rate is 25%. A lower CIT rate is available for the following sectors/industries on a national basis: Qualified new/high tech enterprises are eligible for a reduced CIT rate of 15%. An enterprise has to fulfil a set of prescribed criteria and be subjec...
CIT rate for enterprises registered in China, whether local shareholder or a foreign shareholder, is 25 percent. There are numerous incentives and policies which may lower this amount for high-tech businesses, low profit companies and other companies that meet the criteria of the tax incentives ...
This graph shows the monthly revenue from consumption tax in China from December 2022 to December 2024.
In January 2025, the monthly inflation rate in China ranged at 0.5 percent compared to the same month in the previous year. Inflation had peaked at 2.8 percent in September 2022, but eased thereafter. The annual average inflation rate in China ranged at 0.2 percent in 2024. China’s inflat...
Added a Refund result codes table. Updated the consult document: Modified the following field from Optional to Required: Response parameters: result.resultMessage Added the following error codes: INVALID_CLIENT_STATUS OAUTH_FAILED UNKNOWN_CLIENT Updated the applyToken document: ...