Tag Archives: interest

China’s Latest Laws and Regulations in December (II), 2012

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V. The Ministry of Finance Issued Interpretation Number Five on Accounting Standards for Business Enterprises 

Recently, the Ministry of Finance issued Interpretation Number Five on Accounting Standards for Business Enterprises, which provides interpretations on fives issues, including: business mergers, business launches, credit risk mitigation tools and related services, and how to process accounting step by step in cases where an enterprises invests equity in its subsidiary and ultimately loses its right of control through several transactions.

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How Much Income Tax Should Be Paid for Foreigner’s Income in China ?

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 (By Albert Chen)“Nothing is certain but death and taxes.” Although neither is pleasant to encounter, they are both unavoidable. So then, this post focuses on how foreign nationals working in China pay individual income tax for their gains in China.

I. For what income shall individual income tax be paid?

The taxable items most related to foreign nationals working in China as stipulated by Article 2 of the Individual Income Tax Law of the PRC include:

(1) Income from wages and salaries;

(2) Income from remuneration for services;

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