Introduction To YINGKE
YINGKE is a leading international bilateral investment service firm which provides customized consulting and investment solutions to corporate and individual clients in China and worldwide. Over the years we have built up an integrated network empowered by YINGKE LAW FIRM – the largest law firm in China.
YINGKE, with its headquarters in Shanghai, has over 40 offices in China and over 30 offices worldwide extending to virtually every continent and major market. YINGKE is well equipped with the necessary resources and international expertise to serve our clients' cross-border needs. YINGKE's clients range from industry giants to small-medium enterprises as well as government agencies, chambers and associations.
Apart from comprehensive FDI service, YINGKE provides foreign clients with tailored inbound commercial investment solutions that drives business expansion in the Chinese market. More than that, our international brand management practice connects western brands to Chinese companies; our corporate immigration practice transfers talents across borders; and our HR Services continues to source the best talents that empower and grow with your business. In addition, we also assist Chinese companies in outbound commercial investments, and increasingly wealthy Chinese individuals in their overseas real estate investments.
YINGKE's many years of foreign and Chinese investment services expertise, and our ability to transform complex legal, tax, financial and human resources management (HRM) issues into innovative and simple solutions, has earned us a leadership position in China's bilateral investment services arena. With YINGKE, you can rely on and trust us in planning and implementing your commercial investment project.
Overview of Tax in China
As one of the largest markets in the world, China is increasingly attracting global investors. In order to run your business in the most efficient manner, you should understand the potential tax costs that would incur before incorporating a China company such as a WOFE, and needless to say, after your China company has been established. An overview of major taxes applicable to foreign investors are listed as follows:
Tax on income
1: Corporate income tax ("CIT"): the standard tax rate is 25%, but if your company is engaged in High Tech industries encouraged by the government, your tax rate can be reduced to 15%. Tax holiday is applicable to certified high tech enterprises.
Individual income tax ("IIT") - progressive rates range from 3% to 45%.
Tax on transactions (turnover tax)
Value-added tax (VAT) – applicable to the sale of all industries since May 2016. The standard VAT rate for goods is 17%. The VAT rate for construction, real estate, transportation services, basic communication services and postal services is 11%. Financial services, consumer services, value-added communication services, IT services and most other services apply to the 6% VAT rate. The tax rate for Small-scale Taxpayer (Annual Revenue less than RMB5.0 million) is 3%.
Land appreciation tax
Real estate tax
Vehicle and vessel tax
Motor vehicle acquisition tax
Tax levied by the Customs
China Tax & Accounting Services
After your company is established, YINGKE can help manage all of your on-going administrative requirements, a complex and time-consuming process involving correspondence with the government and relevant bureaus.
Through our Professional Accountants and Tax Experts, YINGKE can manage your China company's tax and accounting more efficiently.
1: Bookkeeping: Establishment and Maintenance of Bookkeeping System for Tax Purposes in Accordance with Chinese Accounting Standards.
Annual Return: Annual Company Report and Annual Financial Report to the company register authorities as required by Chinese law.
Preparation of Company Accounts: Preparation of Monthly Financial Statements for Tax Filing and Submission, Including the Generation of Balance Sheets and Income Statements.
Tax Return: Filing of Value-added Tax (VAT), Corporate Income Tax(CIT), Individual Income Tax, and other taxes and government fees.
Tax Advice: Tax planning and advice to ensure the lowest but lawful tax payment.
YINGKE will assign a TOTAL SUPPORT Account Manager to your company as a single point of contact, thus enabling us to build a good relationship and help us better understand your business requirements.
Total Support & Back Office Services
1: Keeping of Company Licenses and Stamps
2: Capital & Basic Bank Account Maintenance
3: Keeping of Company Invoice Machine
4: Banking Cashier Service
China Tax & Accounting Service Costs
To make it easier and more convenience for our clients, YINGKE offers three different packages of tax and accounting services to different types of companies for your references:
Tax & Accounting Service Packages
1: The above packages do not include export/import and tax refund.
The service packages apply to most Chinese cities, except for some cities which have special requirements.
The service packages apply to most trading and service companies. However, they do not apply to large companies with complex financial structure and tax operations.
The tax and accounting costs are to be charged monthly, or yearly with 10% discount.
Legal & HR Services
As the largest foreign direct investment firm we are able to provide a diversity of services to your company:
China Company Registration
China Trademark & Patent
China Lawyer & Legal Service
China Visa & Work Permits
Recruitment & Payroll
YINGKE Offices & Contacts