Tax calculation and tax planning

Author: Peng Xin'an
Publisher:
Publish Date: 2003-07-01
Features: Taxation is the main source of government revenue in China and a crucial economic lever for strengthening macro-control. It plays a very important role in the development of the economy and society. The current tax legal system in China has been gradually improved on the basis of the original tax system through the 1994 industrial and commercial tax system reform. There are now 28 types of taxes, which can be roughly divided into seven categories based on their nature and function: 1. Circulation Tax Category. 2. Resource Tax Category. 3. Income Tax Category. 4. Specific Purpose Tax Category. 5. Property and Behavior Tax Category. 6. Agricultural Tax Category. 7. Customs Duty. It mainly levies taxes on goods and items entering or leaving the territory of China.