China’s Taxation Administration: Tax Collection PeriodTaxpayers must pay taxes within the period specified by law or the tax authorities in accordance with the law. If a taxpayer fails to pay taxes within the specified period, the tax authorities shall, in addition to ordering them to make payment within the specified …
China’s Taxation Administration: Tax Collection MethodAccording to the Law of the PRC on the Administration of Tax Collection and its detailed rules for application, tax authorities may collect taxes by auditing, assessment, or inspection, or by regular period or amount, or otherwise. Such other methods include withhol…
China’s Taxation Administration: Tax CollectionTax collection refers to a series of activities of tax authorities to collect taxes from taxpayers and pay them into treasury in accordance with the law. The tax law stipulates a series of systems pertaining to tax collection, including tax authorities, taxation jurisdicti…
China’s Taxation Administration: Tax DeclarationTaxpayers must submit tax returns, financial and accounting statements, and other necessary tax information to the competent tax authorities to complete tax declaration within the prescribed declaration period. If it is infeasible to complete tax declaration within the pr…
China’s Taxation Administration: Management of Accounting Books and VouchersAccounting books and vouchers are important management tools for taxpayers' operation and management, and are also the main basis for tax supervision by tax authorities. Taxpayers must establish accounting books according to the national fi…
China’s Taxation Administration: Tax RegistrationIndividuals, enterprises, and their branches that are required to pay taxes under the Tax Law must apply for tax registration with the tax authorities by producing the necessary documents within 30 days from the date of obtaining their business license. If a taxpayer nee…
China’s Individual Income Tax Law: Tax Rate Individual income tax is levied at excess progressive tax rate or proportional tax rate. Income from wages and salaries is taxed based on the balance of monthly income minus RMB 3,500 at the excess progressive tax rate. The revised Individual Tax Law has changed the excessive…
China’s Individual Income Tax Law: Incidence of TaxationThe current individual income tax includes the following 11 taxable items: Income from wages and salaries; Income from the operation and management of individual businesses; Income from contracted or leased operations of enterprises and institutions; Income from s…
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