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Guangzhou Tax Regulations

Updated:2017-11-22 12:14:33    Source:www.tannet-group.comViews:105

Guangzhou is a metropolis incubating countless enterprises. And tax is always an important issue that investors and entrepreneurs are concerned when they begin their business. 

1. Enterprise income tax
Income derived from manufacturing, business operation and other resources 15%.

Manufacturing enterprises with an operation period of over 10 years are, upon their profiting year, free of taxation for the first 2 years, and levied by half for the following 3 years (8years for hi-tech enterprises).Those enterprises with over 70%of their products exported will be levied by 10%from the 6th year(11th year for hi-tech enterprises) on.

2. Business tax
Business tax is one of the taxation should be declared for every company, the Income deriving from providing taxable services, transferring intangible assets, or selling real estate 3-10%.

3. Individual income tax
Individual taxable income 5-45%.
Individual monthly taxable income is the remaining sum of monthly income deducted 800 yuan.

4. Value-added tax
Commodities imported from the free trade zone and sold in domestic market 17%.
Product exports and transactions within the free trade zone are free of value-added faxes

5. Consumption tax
Taxable consumption commodities imported via the free trade zone 3-45%

6. Major expenditures in establishing a corporation
(1) Agency fee for corporation establishment: about 10,000 HKD
(Collected by agency company, investors can freely decide whether to choose an agency.)

(2) Commercial registration fee:
Paid-up capital no more than RMB 10 million
The exceeding sum over RMB 10 million
The exceeding sum over RMB 100 million: no charge
(Collected by the industrial and Commercial Administration)

(3) Fee for capital verification: (Collected by certified accountants office)

7. Salaries, insurance and welfare for employees
Investors shall, after acquiring their business license, report their recruitment plan to GuangzhouAdministrative Bureau of Free Trade Zones for archiving, and then perform open recruitment according to the related procedures.

8. The salaries of the employees are determined by the enterprises on their own.
Salary for workers: RMB 800-1500/month.
Salary for management personnel: RMB 2000-5000/month.
Lowest salary for Guangzhou SEZ in year 20001: RMB 574/month.
Social insurance fees account for about 21%of the salary of an employee.

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