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China Value Added Tax
- The standard rate of VAT in China is 17%. There is a reduced rate of 13% that applies to products such as books and types of oils.
- Exports from China are not subject to value added tax.
- Small businesses with a turnover of less than the legally defined limit pay value added tax at 4%-6%.
China Business Tax
- This nonrecoverable turnover tax is imposed in China instead of V.A.T. on businesses other than manufacturing businesses, including most services and transfer of intangibles and immovable property.
- The business tax is imposed when either the service supplier or the customer are located in China.
- BT returns are to be filed monthly.
- The tax is 3% - 20% (financial services - 5%).
China Consumption Tax
- The tax is imposed inter-alia on sale of alcohol, petrol, jewellery and cars.
- The relevant rates are 3%-45%.
- Consumption tax returns are filed monthly.
Urban Real Estate Tax in China
- A tax of 1.2% is imposed on owners of real estate, according to the value of the real estate.
- The tax on leased real estate is 12%.
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