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Looked into the taxes: for regular employees there are 7 brackets. Anything over 80,000RMB (12320 US Dollar) is taxed at 45%. Though it looks like if your incom
by provost 9y ago
Looked into the taxes: for regular employees there are 7 brackets. Anything over 80,000RMB (12320 US Dollar) is taxed at 45%. Though it looks like if your income is derived by a company outside China, and you live there for >=1 and <= 5 years, you are exempted from taxes. Freelancers have 3 levels (between 20% to 40%).
[1] https://www.ecovis.com/focus-china/individual-income-tax-iit-china-ground-rules/ https://www.ecovis.com/focus-china/individual-income-tax-iit...
- pcr0 9y agoImportant to note that those figures are for monthly income, not yearly.
- seanmcdirmid 9y agoChinese taxes are a bit higher than the states, but note that is an all inclusive rate (federal, local). There are also many ways to get some income tax free for foreigners via special exemption (say around 10%) so it is only a bit more than USA taxes in the end (I filed the foreign tax credit form way too many times so have done the math a lot).
- lowpro 9y agoThis is actually lower than the US in a few places, including California where the top bracket including local, state, and federal taxes can go up to 52%. On mobile so don't have a reference on me.
- seanmcdirmid 9y agoSure, though coming from Washington state that wasn’t much solace. Even without state taxes, it some how worked out that I was fairly even with my USA federal tax liability, probably because the deductions are different in china.