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tax

The taxation of substantial welfare and public use of personal property offered to the employee

 

The foreign invested enterprise or foreign enterprise(called “the enterprise hereinafter”) may purchase some personal consumer goods such as the house or car for the qualified employee. It is required to fill in the employee’s name on the housing ownership certificate and car invoice. It also shall be agreed that the ownership of the house or car belongs to the employee after he or she has worked for certain years or satisfied some other requirements. For the above welfare, it can be averagely divided into monthly wage and salary income as regulated by the enterprise within the working life (it is considered five years when exceeding ) to pay the individual income tax.”

"Second, for the car paid by the enterprise, it is equally considered into wage and salary income from the enterprise to the employ to determine the levy of tax. It is also can be considered property lease income to pay the tax if the leasing contract can be offered. This approach could be accorded when other public use of personal property occurs. ”

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