Feb. 22 – Over the past three years, many Chinese provinces have lowered business tax (BT) rates for enterprises operating within the entertainment industry in a move to boost entertainment consumption and the “night economy.”
According to China’s “Interim Provisions on BT (PRC State Council Decree No.540),” the entertainment industry is subject to BT rates ranging between 5 percent and 20 percent. While many entertainment businesses across the country previously faced BT rates edging towards the upper limits of that range, BT burdens have now been significantly reduced in recent years many enterprises are now subject to the minimum 5 percent BT rate.
A majority of the provinces/municipalities listed below differentiate their BT treatment to different types of entertainment businesses. In general, the golfing business is always subject to a higher BT rate, while some other enterprises (such as those in the pool and bowling business) enjoy lower BT rates.
Dezan Shira & Associates is a boutique professional services firm providing foreign direct investment business advisory, tax, accounting, payroll and due diligence services for multinational clients in China, Hong Kong, India, Singapore and Vietnam. The firm specializes in assisting foreign enterprises with their tax obligations. For further advice and specifics relating to these recent measures, please email firstname.lastname@example.org, visit www.dezshira.com, or download the firm’s brochure here.
The China Tax Guide (Fifth Edition)
This popular book, fully updated with all recent tax changes and amendments, details all taxes in China affecting businesses and individuals, how to calculate the amounts due, tax registration and filing procedures, tax minimization techniques, and claiming VAT rebates. It also details good financial management techniques, handling negotiations with the tax bureau and annual audit and compliance procedures.
Fujian’s Entertainment Industry to Enjoy Lower Business Tax Rates
China Continues Offering Tax Incentives to Animation Industry
China Agrees to Further Open Entertainment Market to U.S.
Zhejiang Province Revises Business Tax Rates for Entertainment Industry
Guangdong Province Revises Business Tax Rates for the Entertainment Industry
Previous Article « Mandatory Social Welfare Benefits for Chinese Employees
Next Article Minimum Wage Levels Across China »
Dezan Shira & Associates´ brochure offers a comprehensive overview of the services provided by the firm. With its team of lawyers, tax experts, auditors and...
A firm understanding of China’s laws and regulations related to human resources and payroll management is absolutely necessary for foreign businesses in...
Doing Business in China 2022 is designed to introduce the fundamentals of investing in China. Compiled by the professionals at Dezan Shira & Associates in...
With the scope and penalties of China’s social credit system being further clarified in 2021, legal and regulatory compliance has become more important than...
As a legitimate tool for reasonable tax planning and cost saving, tax incentives play an important role. Companies also use tax incentives as a useful...
Over the last few months, China has been quickly expanding the pilot program on electronic special value-added tax (VAT) fapiao (hereafter special VAT...
Dezan Shira & Associates helps
businesses establish, maintain,
and grow their operations.
Stay Ahead of the curve in Emerging Asia. Our subscription service offers regular regulatory updates,
including the most recent legal, tax and accounting changes that affect your business.