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A New Dawn in the far East [Copy link] 中文

Rank: 3Rank: 3

Post time 2013-3-19 13:26:32 |Display all floors
The middle income earners are the successful backbone of China large and small business' .  COLE (costs of living espenses) for the average citizen (without residential payments) is between 20% and 25%, add another 30-40% for daily living expenses,  1% medical and insurance expenses, 15% transportation costs one can expect to have a lofty 10% for savings to pay for the elementary and high school education of their child.

The average wage earning between the ages of 18 -35 can thankfully be ranked in the top 10% of the worlds countries. This is progress.

Pitfalls are rising costs of food, water and power. Farmers and manufacturer's want more money for their products and workers want higher pay to pay for these products.

Enter Socia-capitalism. Restrict the cost of labour, food, water, and luxury items (cars,big screen TV, new couch or drapes, vacations, an apartment [which the father parents paid for with their sweat and blood for 40 years while living a dormant but content life] the latest cellphone, video game or computer) then there will be peaceful bliss.

The sun is just dawning on the Far East.



China Tax Rates 2012

  • The tax on an individual's income is progressive. As at  2013, an individual's income is taxed progressively at 3% - 45%.
  • The  2013 corporate tax rate for domestic and foreign companies is 25%.
  • Small companies pay 20% corporate tax in certain cases.


Capital Gains
  • An individual's capital gains are taxable in China at the rate of 20%.
  • Capital gains tax for a Chinese company is added to the regular tax.
  • A 10% deduction at source is made from the capital gains of a foreign company in China.
  • 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).


Table of Income Tax Rates in China for an Individual in  2013

Tax %

Monthly Income (CNY)

3%     [td]1 - 1,500

10%

1,501-4,500

20%

4,501-9,000

25%

9,001-35,000

30%

35,001-55,000

35%

55,001 - 80,000

45%

80,001  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%.

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Post time 2017-8-22 23:21:05 |Display all floors
ll systems are mixed in some form.

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