Paying Taxes
The table below addresses the taxes and mandatory contributions that a medium-size company must pay or withhold in a given year in China, as well as measures of administrative burden in paying taxes.
Tax or mandatory contribution Payments (number) Notes on Payments Time (hours) Statutory tax rate Tax base Total tax rate (% profit) Notes on TTR Social security/housing fund contributions 1 online filing 192 44.0% gross salaries 58.9 Corporate income tax 1 online filing 96 33.0% taxable profit 11.5 Urban maintenance tax 0 paid jointly - 7.0% VAT 3.5 Education surcharge 0 paid jointly - 3.0% VAT 1.5 Land use tax 2 - RMB 15 per square meter 1.5 Stamp duty 2 - 0.03% transaction value 1 Property tax 1 - 1.2% 80% building value 0.9 Levies for construction and Maintenance of River projects 0 paid jointly - 1.0% VAT and business tax 0.5 Business tax 1 - 5.0% capital gain 0.5 Value added tax (VAT) 1 online filing 216 17.0% value added not included Totals: 9 504 79.9
Notes:
Name of taxes have been standardized. For instance income tax, profit tax, tax on company's income are all named corporate income tax in this table.
The hours for VAT include all the VAT and sales taxes applicable.
The hours for Social Security include all the hours for labor taxes and mandatory contributions in general.