China-Business Environment Taizhou Jinba Industry-Trade Co., Ltd. $CompanyName$

Product List

ADD:shangtantou village,daxi town,wenling,zhejiang,china

TEL:0086-576-86381811

FAX:0086-576-86382389

PERSON:Chen xiaofen

Websites:

http://www.jinbapump.com/

China-Business Environment

2008-10-14

Standards

Independence of justice: Judiciary is not independent in China. The government controls the judiciary. The CCP directs verdicts and sentences, particularly in politically sensitive cases.
Equal treatment of nationals and foreigners: The judiciary does not guarantee an impartial trial to a foreign national. A high degree of corruption exists in the country, especially corruption within the CCP is rampant.
The language of justice: Mandarin-Chinese is the judicial language of China.
Having recourse to an interpreter: Having an interpreter is possible.
Sources of the law and legal similarities: The constitution is based on the promulgation of December 1982; with country's legal system originating from the civil law system which has been derived from Soviet and continental civil code legal principles.

Type	Text	Date entered into law	Period of validity	Remarks
Patent	Munich Convention	-	-

Tax rate for resident companies
Tax rate on long-term capital gains: Capital gains are levied at the rate of 33%,
System governing groups of companies and dividends paid by subsidiaries to their parent companies: Dividends are not subjected to any withholding tax,
Tax rate on branches: There is no separate branch income tax .

Tax rate
Allowable deductions and tax credit: In China there are several types of deductions and reductions applying to taxpayers, For example, single people can deduct a fixed amount of their monthly salary accounting for 800 RMB, An additional amount of 3,200 RMB can be deducted from the monthly income of the foreigners taxed in China, for a total of 4,000 RMB,
The other deductions depend on the activity and on the salary of each,

Tax year: The fiscal year begins on January 1-st and ends on December 31 of the same year.
Accounting standards
Accounting reports: Companies have to produce a balance sheet and a profit and loss account.
Moreover, the Ministry of Finance publishes some important guidelines in the
"Accounting Standards for business Enterprises ".
Accountancy profession: - The Ministry of Finance.
Certification and auditing: " The Nation's People's Congress " is the highest authority, which promulgates laws and standards of the Chinese accounting.

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