Overview of China's Tax System: 2004 Edition

Author: Liu Zuo
Publisher:
Publish Date: 2004-05-01
Features: A General Overview of China's Tax System comprehensively introduces the basic situation of China's current tax system, including the taxpayers, items, tax rates, basis for calculation, methods of calculation, tax reduction and exemption provisions, tax periods, locations, tax collection and management systems, and tax authorities. Additionally, it lists multiple special provisions that Hong Kong businesses should pay particular attention to, such as: foreign-invested enterprises investing in other enterprises in mainland China, the profits (dividends) received from the investing party can be excluded from the taxable income of the enterprise; if taxpayers cannot provide complete and accurate accounts and fail to correctly calculate the tax liability, the local competent tax authority may determine the tax amount based on the profit level of the same industry; the business transactions between the production and operational entities established by taxpayers in mainland China and their affiliated enterprises shall be charged or paid fees in accordance with the business transactions between independent enterprises.
Based on China's current tax laws and relevant authoritative materials, this book provides a relatively comprehensive overview of the basic situation of China's current tax system, including the history of tax system development, the taxpayers, items, tax rates, basis for calculation, methods of calculation, tax reduction and exemption provisions, tax payment periods and locations, tax collection and management systems, and tax authorities. It is accompanied by appropriate calculation examples and charts. It also introduces suspended tax types, taxes that have not yet been legally levied, and non-tax revenue income projects collected by tax authorities, all in a concise and easy-to-understand manner, making it convenient for reference. We hope it will help readers understand the general outline of China's tax system.