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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: BubbaFred who wrote (36594)	7/27/2003 3:37:25 PM
From: RealMuLan	Read Replies (1) \| Respond to of 74559

BubbaFred, Tax rates in China. Income less 800 Yuan is exempted. 801 - 1300 Yuan 5% 1301 - 2,000 Yuan 10% 2001 - 5000 Yuan 15% 5001 - 20,000 Yuan 20% 20,0O1 - 40,000 Yuan 25% 40,0O1 - 60,000 Yuan 30% 60,0O1- 80,000 Yuan 35% 80,0O1 - 100,000 Yuan 40% >1000,000 Yuan 45% here is a Chinese site in case you are interested: commerce.sh.cn And this rate will change from this coming Sept. the exempted amount will become 1,200 Yuan. And for <5,000 Yuan, the tax rate will be changed into 10%. And the category will reduced to 5 from 9. And the above rate is the national rate, each city has some flexibility. I read that Beijing has changed to 1,000 exemption from 800 Yuan 3-4 years ago. And keep in mind, there is virtually no enforcement to fill income tax return in China. The gov. gets the money by withholding from the pay. And cash business is extremely popular for parttime job, which a lot of people have it. Other news: It is reported today, the Chinese city resident per capita disposable income ranking: ShenZhen #1: 12,373 Yuan, Beijing 7,040, #5 It is estimated now already $20 Billion US$ flows in China, betting on RMB will revalue upward. Chinese gov., in order to ease up the pressure on RMB, for the 1st time, sell the gov. Bond denominated in US$ ($500 million this time, and more will come). Chinese gov. may also encourage Chinese companies buying the US companies, and their technology.