Value Added Tax (VAT). VAT Planning and VAT Return: Negotiation with local and foreign authorities.
The regulatory bodies on tax matters in China are the following:
● Council of State.
● Ministry of Finance.
● State Tax Administration.
● Local tax authorities.
● Corporate tax: The unified tax rate is 25% for local and foreign companies and a reduced rate of 20% for small businesses and small incomes.
● VAT (VAT): 17% for general taxpayers.
● VAT (VAT): 13% reduced on sale and import of basic goods.
● VAT (VAT): from 4 to 6% for taxpayers or companies with a reduced size.
● VAT (VAT): 0% for goods imported as financial aid from foreign governments and international organizations, equipment for scientific experiments and second-hand goods.