President Donald Trump on Wednesday evening tweeted that the US “should do everything possible” to match a 15 per cent business tax in China. The standard corporate income tax rate in China is 25 per cent and can in practice exceed 45 per cent.
China’s standard corporate income tax rate is 25 per cent, according to the State Administration of Taxation, and has been since 2008.
As noted in June by PwC, Chinese enterprises in certain technology sectors can qualify for a reduced rate of 15 per cent – provided they can fulfil a prescribed set of criteria and be subject to an assessment. Some businesses that qualify as “key software production enterprises” can even enjoy a rate of 10 per cent.
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