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Contact Us

Address: Block C, Xincheng Mansion, 265 Middle Jiangdong Road, Nanjing, China

Telphone:+86-025-68787109, 68787006

Fax:+86-025-68787170

Opening a Foreign Exchange Account

Approval document of a foreign exchange current account (capital account) from AFE is necessary for opening a foreign exchange account at bank.
Taxation System
I. Main Taxes for Foreign-Invested Enterprises
 Tax Item  Object and Scope of Tax  Tax Rate
 Corporate Income Tax  Within the territory of PRC, enterprises and other organizations earning incomes must pay corporate income tax. Resident enterprises of PRC must pay corporate income tax for their incomes inside and outside China Statutory tax rate: 25% Preferential tax rate for small low-profit enterprises: 20% Preferential tax rate for hi-tech enterprises to receive key national support: 15%
 Value-Added Tax  Legal entities and individuals for sales of goods, processing, repairing or import goods in China.  17% (depending on specific items) 
 Consumption Tax  Sales revenue or sales volume of 14 types (categories) of taxable consumer products such as cigarettes, wine, and cosmetics according to China’s regulations.  Ad valorem duty 1%-56% Specific duty based on volume RMB 0.1 -250
 Business Tax  Legal entities and individuals who provide taxable labor services, transfer of immovable properties and intangible assets in China.  Proportional tax rate according to different industries, 3%-20%
 Tariff  Duty-paid value or quantities of specific imported/exported goods   0-270%
 Individual Income Tax  11 types of individual income, including wages and salaries and labor income.  0-45%
 Deed Tax  Price of the transferred immovable properties.  3%-5%
 Building Tax  Taxable value or rental income of the building.  1.2%-12%
 Land Appreciation Tax  Legal entities and individuals for transfer of state-owned land -use rights, and aboveground structures and their fixtures.

 30%-60%

 Stamp Duty  Legal entities and individuals for composing and receiving vouchers in China including commercial contracts, property right transfer deeds, business accounts, rights, licenses, and other vouchers specified by the Ministry of Finance.   RMB 5 or 0.005%-0.1% per stamp

II.  Responsible Authorityi for Tax Registration and Contact
1. State Tax Registration
 Responsible Authority: Nanjing Municipal Office, State Administration of Taxation
Address: Reception deskA129, Municipal Service Center, No. 265 Central Jiangdong Road, Jianye District, Nanjing
Tel: +86 (25) 68505129
2. Local Tax Registration
Responsible Authority: Jiangsu Nanjing Local Taxation Bureau
Address: Reception deskA130, Municipal Service Center, No. 265 Central Jiangdong Road, Jianye District, Nanjing
Tel: +86 (25) 68505130

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