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Value Added Tax
- The standard rate of VAT in China is 17%. There is a reduced rate of 13% that applies to:
Isolated 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 6%.
Business Tax
- This tax is imposed in China instead of V.A.T. on businesses other than manufacturing businesses, including on banking and insurance services.
- The tax is 3% - 20% (financial services - 5%).
Urban Real Estate Tax
- 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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