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Guide to Foreign Investment

5、Taxation Policies

Rate of the Major Taxes Involved in the Management of Enterprises

Tax Item

Basis

Tax Rate

Value-added Tax

1、Selling imported commodities, providing processing and repairing service

17%

2、Grain, edible vegetable oil

13%

3、Tap water, central heating, air conditioning, hot water, gas, liquefied petroleum gas

13%

4、natural gas, marsh gas, residents used coal products

13%

5、Books, newspapers, magazines

13%

6、feed, chemical fertilizer, pesticide, agricultural machinery, agricultural film

13%

Business Tax

Transportation Industry

3%

Construction Industry

3%

Financial and Insurance Industry

8%

Postal and Telecommunication Industry

3%

Cultural and Sports Industry

3%

Entertainment Industry

5%-20%

Service Industry

5%

Transferring intangible asset

5%

Selling real estate

5%

Foreign Invested Enterprise Income Tax

 

30%

For details of taxation information, please refer to the website of State Administration of Taxation: http://www.chinatax.gov.cn
For details of preferential policies on taxation, please check the following websites:
Website of State Administration of Taxation Shandong Branch: http://www.sd-n-tax.gov.cn

Website of Shandong Local Taxation Administration: http://www.sdds.gov.cn/sdds

6．Foreign Exchange Administration

Enterprises, within 30 days upon obtaining the "Business License for the Legal Person of an Enterprise of the People's Republic of China", shall apply for foreign exchange registration in local administration of foreign exchanges. Upon obtaining the foreign exchange registration certificate, enterprises may open a foreign exchange account in the bank with the registration certificate and account-opening notice. Foreign funded enterprises' after-tax profits and the salary incomes of foreign staff, can be changed into foreign currency in the administrations of foreign exchanges and be remitted overseas freely.

Please refer to the website of State Administration of Foreign Exchanges for details: http://www.safe.gov.cn.

 

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