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China’s Current Tax System – Vehicle and Vessel Tax
Within the territory of China, the owners or managers of vehicles and vessels (hereinafter referred to as vehicles and vessels) shall be the taxpayers of vehicle and vessel tax.The applicable amount of vehicle and vessel tax shall be in accordance with the schedule of vehicle and vessel tax items. The specific applicable tax on vehicles and vessels shall be determined by the people's governments of provinces
China's Current Tax System – Vehicle Purchase Tax
Enterprises and individuals who purchase taxable vehicles are taxpayers of vehicle purchase tax, including acquire and use taxable vehicles by buying, importing, manufacturing, bestowal, winning awards or through other methods.Automobile, tram, trailer, motorcycles with a displacement of more than 150 milliliters.
China's Current Tax System - Stamp Tax
The taxpayers of Stamp Duty include any enterprise, unit, individual household business operators and other individual who executes or receives specified documents (taxable documents) listed in the Tax Law within the territory of China. According to the different types of taxable documents, taxpayers can be divided into the following six categories
China's Current Tax System - Deed Tax
Deed Tax adopts a flat rate within the range of 3%-5%. The applicable tax rate shall be determined by the people’s governments of provinces, autonomous regions and municipalities directly in accordance with the actual conditions of their respective areas within the scope prescribed in the preceding paragraph.
China's Current Tax System – Customs Duties
The consignees of import goods, the consigners of export goods and the owners of inward and outward articles are duty payers.Customs dutiable value of import and export goods shall be determined by Customs on the basis of the actual transaction value with some adjustments.
China's Current Tax System - Revenue Allocation between the Central Government and the Local Governments
The items that are collected and administered by tax authorities include: VAT, Consumption Tax, Vehicles Purchase Tax, Enterprise Income Tax, Individual Income Tax, Resource Tax, City Maintenance and Construction Tax, City and Township Land Use Tax, Farm Land Occupation Tax, Land Appreciation Tax, House Property Tax, Vehicle and Vessel Tax, Stamp Tax, Deed Tax, Environment Protection Tax, Tobacco Tax
China’s Current Tax System – Vessel Tonnage Tax
Vessel tonnage tax shall be collected on the basis of the net tonnage of a vessel and the term of the vessel tonnage certificate. Net tonnage refers to the net tonnage indicated on the vessel tonnage certificate issued by the government of the vessels of the nationality of the country or region.
Brief introduction on Tax-related Issues for Finance Lease
Finance lease is a new type of business in finance sector. It integrates finance lease and asset lease, trading and technology renovation. The credential and guarantee requirements are not strict for finance lease. The depreciation of assets that obtained by finance lease can be deducted when calculating corporate income tax, and the input VAT of the rent can be used to offset output VAT.
China Tax Administration Guide - Taxable Income
Where an enterprise with foreign investment invests in another enterprise within China, the profit (dividends) obtained from the enterprise receiving the investment may be excluded from its taxable income; however, expenses and losses incurred in the investment process may not be deducted from its taxable income.Unless otherwise stipulated by the State, the following items shall not be itemized as costs
Business Dealings between Associated Enterprises
In business transactions between an enterprise with foreign investment or the establishments or sites set up in China by a foreign enterprise for production or business operations, and its associated enterprise, the payment or receipt of charges or fees shall be made in the same way as the payment or receipt of charges or fees in business transactions between independent enterprises.