China Tax Laws - from Dezan Shira and
Associates
January 2012 |
Servcorp
As the Global Financial Crisis rumbles on, with certain reduced
growth rates on the horizon for Europe and the United States,
multinationals are looking elsewhere to achieve their business
goals. Asia, a region riddled with wars and ineffective economic
policies for much of the past century, has finally stepped into the
front line of global trade and commerce. Like most things in
emerging Asia, the tax world is dynamic. Many economies in the
Asian region have reduced profit tax rates in recent years
(including China). Here we look at the taxes most applicable to
foreign businesses and individuals in China, i.e., corporate income
tax, value-added tax, goods and service tax, standard tax on
dividends and individual income tax. These rates are based on
domestic laws and do not take into consideration reductions or
exemptions provided by double tax treaties.
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