4 ms·

China does have a better overall business environment. You're correct when you assert that cities in the US can't compete as far as raw abilities. But the orig

China does have a better overall business environment. You're correct when you assert that cities in the US can't compete as far as raw abilities. But the original comment was about China's tax system, and that's all I was talking about. I was comparing only the tax systems. To say that China's TAX SYSTEM is better than that of the US is disingenuous.

baybal2 8y ago
Hmm, lets challenge that assumption too! :) I personally know 20 or so people who had ran business in China, and been personally involved in more or less intimate financial dealings of companies in China. Good sides: 1. Tax documentation is that damn simple 2. Of all countries, it is China that understands that you don't slaughter a chicken that will be laying golden eggs. That will sound very surprising, but the overall tax policy is more or less positive towards business. Most mom and pops shops are not demanded formal business registration, and even if they decide to legalise, many provinces have tax free or reduced tax grace periods from 2 to 5 years for small businesses! You simply don't hear taxmen making ruckus in the industry here. The worst thing about I heard personally was company's few thousand fapiao submission being subjected to review one by one for one year. 3. Smaller income tax, and in overall fever people having to pay it results in overall cheaper life for ordinary people, and cheaper workers. If you run an export business, you can see that "decoupling" effect the most. The economy is tuned to that lowest common denominator, not the abstract "middle class earner." All of that tells that China has very different view on taxation. Plain income, corporate and individual - completely chill, but for anything like good/transactions/services/other "money in motion" taxation is merciless.

4 ms·

China does have a better overall business environment. You're correct when you assert that cities in the US can't compete as far as raw abilities. But the orig

by bilbo0s 8y ago

baybal2 8y ago
Hmm, lets challenge that assumption too! :) I personally know 20 or so people who had ran business in China, and been personally involved in more or less intimate financial dealings of companies in China. Good sides: 1. Tax documentation is that damn simple 2. Of all countries, it is China that understands that you don't slaughter a chicken that will be laying golden eggs. That will sound very surprising, but the overall tax policy is more or less positive towards business. Most mom and pops shops are not demanded formal business registration, and even if they decide to legalise, many provinces have tax free or reduced tax grace periods from 2 to 5 years for small businesses! You simply don't hear taxmen making ruckus in the industry here. The worst thing about I heard personally was company's few thousand fapiao submission being subjected to review one by one for one year. 3. Smaller income tax, and in overall fever people having to pay it results in overall cheaper life for ordinary people, and cheaper workers. If you run an export business, you can see that "decoupling" effect the most. The economy is tuned to that lowest common denominator, not the abstract "middle class earner." All of that tells that China has very different view on taxation. Plain income, corporate and individual - completely chill, but for anything like good/transactions/services/other "money in motion" taxation is merciless.