China Corporate Income Tax Law
1 Chine Law
1.1 China Corporate Income Tax Law
古代皇后" People's Republic of China Corporate Income Tax Law " is a law which is ud to make the Chine domestic enterpris and other organizations to obtain income to pay corporate income tax law. The current law was revid and promulgated on the fifth meeting of General Asmbly of the Tenth National People's Congress on March 16, 2007 by the People's Republic of China. It went into effect on January 1, 2008. At prent, the corporate income tax in our country occupies more than 75% of the income tax revenue of our country.
Basically, the development of the corporate income tax in China experienced three stages. The first stage is in the early 1980s, the cond stage is from the middle 1980s to late 1980s, the last stage is from 1990s to nowadays. In the first stage, China t up the system
and the law of the income tax, including the personal income tax, domestic corporate tax, and the Sino-foreign joint venture income tax. In the cond stage, China t up the state-owned enterpris income tax system in our country, t up a private enterpri income tax system, and perfected the system of collective enterpri income tax. in the last stage, China uphold the principle of the unity government in our country, the fair tax burden, simplifying the tax system, and promoting competition. Meanwhile, china has completed the unification of the foreign capital enterpri income tax law, the unity of the domestic enterpri income tax law, and the unity of the individual income tax law, the longevity of the tax law to the new enterpri income tax in 2008, realized the unification of the domestic and foreign enterpri income tax law.蓝舌病
1.2 Basic information about China corporate income tax.
Our country corporate income tax object can be divided into two categories, one kind is resident, impo their worldwide income. Another kind is a non-resident enterpri, and impo its income in China. According to the newly revid corporation income tax law in
2008, we u the flat rate. Our country corporate income tax rate is 25%, conform to the conditions of small miniature enterpri, the corporate income tax rate is 20%. For a non-resident enterpri, if it has no agencies or t up institutions in China, and obtains the source has nothing to do with institutions of income. Its income from China’ part is applied to the tax rate of 20%, but be levied at a reduced 10%. Conform to the conditions of the state council and approved by the new and high technology industries, they have the corporate income tax rate is 15%. In addition, the characteristics of the corporate income tax in China mainly include: (1) the taxable income tax basis;(2) the process of calculating the taxable income amount is complicated;(3) the amount can be a burden, the more income, the more tax, while the less income, the less tax. (4) pay the tax yearly, but can prepay monthly or quarterly.
2 American Law
部队思想汇报2.1 American Corporate Income Tax 24节气歌
Corporate income tax is impod at the federal level衙役的拼音 [1]. on all entities treated as corpor
ations (e Entity classification below), and by 47 states and the District of Columbia. Certain localities also impo corporate income tax. Corporate income tax is impod on all domestic corporations and on foreign corporations having income or activities within the jurisdiction. For federal purpos, an entity treated as a corporation and organized under the laws of any state is a domestic corporation. [2] For state purpos, entities organized in that state are treated as domestic, and entities organized outside that state are treated as foreign. [3]
2.2 Basic information about American corporate income tax.
晋书翻译Here is the chart [4] of the federal American corporate income tax.
寒衣节是什么节According to the chart, we know, the tax rate of the American corporate income tax is from 15% to 35 % and using the extra progressive tax rate.
3 Comparison of the law between America and China
3.1 Different Develop of the Corporate Income Tax in History
Compared to income tax in China and the United States of the development process, it is not hard to find, America tting up and developing the system of income tax is earlier than the China’s system, and it is nearly half a century in advance. America's corporate income tax emerged and developed in the 1920 s, and in the 80 s became the main tax revenue. In America, the country's corporate income tax is implemented the unified tax inside and outside in the 1990s. In addition, the United States claims that the principle of paration of powers—federalism, is the reason that the income tax system in the United States reflects the combination of democratic principles and the principle of paration of powers. This makes the United States once the corporate income tax reform, can very good and widely recognized, applied at the same time. the income tax revenue also beg
an to make up most of the national fiscal revenue. In today, the corporate income tax system in America is going to be the most perfect system in world, and can be very good to the development as time goes by. Compared with America, the earliest Chine income tax system is ud for the needs of the control class to rule the country, so China's income tax legislation lacks democratic decision-making process, as well as the adaptability and scientific. Although, after the reform and opening-up policy, our country income tax system as learnt a lot from abroad, and has become increasingly perfect. But, in contrast to the United States, China's nearly venty years behind the America in the income tax law’s establishing, revising and developing. Although, the first time establishing the income tax in two countries in the history had a difference with only fifty years. However, after that our country has been falling behind for 20 years, therefore, our country income tax system still has a lot of space to develop.
3.2 Different Tax Ratebetterman
The corporate income tax rate in China is below 25% and the maximum is 25%, with the f
lat rate. However, America us the extra progressive tax rate, and the rate is from 15% to 35%. Meanwhile, America has two or three level of corporate income tax. So combining the local and state level corporate income tax, we can find the average corporate income tax in America is quite high, and sometimes, it may be higher than China. The United States has the third highest general top marginal corporate income tax rate in the world at 39.1 percent, exceeded only by Chad and the United Arab Emirates. [5] Actually, the different tax rate is becau of the economic growth and the country structure. For China is a developing country, we using the flat rate and lower rate to improve our economic and the preci our income tax system. meanwhile, we all know china a is a power- centralized country, so we only using one tax rate across the whole country. On the contrary, America is a federalism country, and according to their federal constitution, federal has no power on the state taxation, as a result, America has a relatively high tax rate, for the company in the different states have to pay different rate of the sates level tax and the federal level at the same time. In addition, America is developed country, and most developed countries using the progressive rate instead of fl
at rate. To be honest, progressive rate is more complicated than the flat rate but much more fair and equity.
