On 31 January 2024, the State Taxation Administration of China (thereafter ‘SAT’) issued the “Announcement of Annual Individual Income Tax Declaration for Comprehensive Individual Income for Fiscal Year of 2023”, which provides detailed guidance for handling the annual individual income tax declaration for fiscal year of 2023.
After the reform of resource taxes on July 1, 2016, resource tax mainly adopts tax rate and only a few items adopt quantity-based method., For cash transactions and difficult to control the clay, sand, in accordance with the principle of convenient collection, still practice or cubic meters 0.1 5 yuan per ton from quantity quota duty tax;
The taxpayers of Urban and Township Land Use Tax include all enterprises, units, individual household businesses and other individuals who have land-use right (excluding enterprises with foreign investment, foreign enterprises and foreigners). The amount of tax payable is computed on the basis of the actual size of the land occupied by the taxpayers and by applying the specified applicable tax payable per unit.
The taxpayers of Urban Maintenance and Construction Tax are the enterprises, units, individual household businesses and other individuals who are obliged to pay Value Added Tax and consumption Tax. Differential rates are adopted: 7% rate for city area, 5% rate for county and township area and 1% rate for other area.
Farmland occupation tax is imposed on all state-owned or collectively owned crop-growing land, and shall apply to those who occupy garden land, forest land, grassland, land for irrigation and water conservancy, water surface for cultivation, beaches for fishery waters and other construction buildings on agricultural land or engage in non-agricultural construction.
Duty Payers, The enterprises who purchase tobacco leaves within the territory of China shall be the taxpayers of tobacco tax. Taxation Scope: Dried tobacco leaves, roasted tobacco leaves. Tax Rate: Tobacco tax adopt uniform tax rate of 20%. Calculation for tax payable: Tax payable= Actual payment for tobacco leaf procurement*20%
According to China’s Corporate Income Tax law, enterprises shall declare related transactions in the time of submitting the annual Corporate Income Tax declaration forms if they have related transactions. Enterprises can refer to below regulations to deal with the related transactions properly.
Abnormal taxpayer means taxpayers who proceed tax registration but fail to file and pay tax within the prescribed time limit. Taxpayers are obliged to file tax returns. The tax collection and management system will automatically identify taxpayers as abnormal if all the taxes are not declared in consecutive 3 months.
Organization for Economic Cooperation and Development (hereinafter referred to as OECD) states in Article 9 of ‘OECD Model Tax Convention’ that ‘two enterprises in their commercial or financial relations which differ from those which would be made between independent enterprises, then any profits which would, but for those conditions, have accrued to one of the enterprises
In recent years, more and more companies chose to rent houses to develop their own operation and business activities. In order to promote a healthy house leasing market, the government has successively introduced a series of policies. This article will analyze the relevant taxes involved in house leasing by different entities in accordance with the relevant preferential tax policies of Shenzhen, for Kaizen clients’ reference.