Jun. 10 – Jiangsu’s Municipal Tax Bureau released the “Announcement on Tax Collection Standards (sudishuigui  No.2, hereinafter referred to as the ‘Announcement’)” on May 31, which unifies the tax collection standards across the province. The Announcement includes eight types of tax collection rules, and clarifies the cost-profit ratios, tax rates of taxable income, and verified percentages in tax collection. Detailed information can be found below.
According to the Announcement, the cost-profit ratios as stipulated in Article 20 of the “Implementation Regulations for the Provisional Regulations of the People’s Republic of China on Business Tax” have been determined as the following:
Such ratios will come into effect on July 1, 2013.
Tax Rate of Taxable Income
The tax rates of taxable income as stipulated in the Article 8 of the “Measures for Verification and Collection of Corporate Income Tax” have been determined as the following:
The tax rates of taxable income as stipulated in the Article 9 of the “Provisions on the Collection of Individual Income Tax on Investors in Sole Proprietorship Enterprises and Partnership Enterprises” have been determined as the following:
The verified percentages as stipulated in the Article 4 of the “Circular on Issues Concerning the Reinforcement of Administration on Stamp Tax Collection” have been determined as the following:
The above-mentioned percentages will come into effect on July 1, 2013.
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