Jim.... i hope it is what you meant with taxes.
TAXES
Income Tax Rates in China
•The tax on an individual's income is progressive. As at 2009, an individual's income is taxed progressively at 5% - 45%.
•The 2009 corporate tax rate for domestic and foreign companies is 25%.
•Small companies pay 20% corporate tax in certain cases.
Table of Income Tax Rates in China for an Individual in 2009
Tax % Monthly Income (CNY)
5% 1 - 500
10% 501 - 2,000
15% 2,001 - 5,000
20% 5,001 - 20,000
25% 20,001 - 40,000
30% 40,001 - 60,000
35% 60,001 - 80,000
40% 80,001 - 100,000
45% 100,001 and above
The table relates to income from a salary. Income from other business is taxable at 5% - 35%.
Passive income such as interest and royalties is taxable at a standard rate of 20%.
•On taxing capital gains from the sale of real estate, when calculating the capital gain the purchase cost is deducted from the sale price at the 20% rate. When the capital gains are in excess of 50% of the purchase price, the rate of capital gains tax fluctuates between 30% - 60%. (It is 60% when the capital gain is over 200% when compared to the cost).
Overseas Income
•An individual and company who are Chinese residents are also taxed on their income outside China and receive a credit for overseas taxes.
•Qualification for residence for an individual:
Permanent residence in China while an individual who has no permanent residence in China but has lived in China for less than 5 years is taxed on his income in China, or overseas income that has its origins in China.
Individuals staying in China more than five tax years are taxed on their worldwide income too.
Taxation of Employees
An employer is obligated to deduct tax at source on a monthly basis from a salaried employee and to make additional contributions to social security.
Social security in China consists of 3 parts, basic pension, personal accounts and additional payment.
The rates for the basic pension are,employer - around 20%, employee - 7%.
Other deductions
The following payments are subject to a deduction of tax at source:
Dividend - 10%.
Interest - 10%
Royalties -10%.
Capital gains -10%
Comments:
Deductions at source for payments to foreign residents is subject to the Double Taxation Prevention Treaty.
