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China - Register for Net Wealth Tax

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Procedure[edit]

Enterprises and their subsidiaries and production and business departments in other parts of the country, individual owners of industry and commerce and other undertakings engaged in production and business operation (hereinafter referred to as taxpayers engaged in production and business operations) should apply for tax registration with the local tax authorities where they carry out production and/or business operation.

Taxpayers should receive tax registration forms from competent the tax authority or tax registration centers and complete them as required.

Competent the tax authority or tax registration centers should examine and verify the documents, certificates, materials and tax registration forms submitted by taxpayers, issue tax registration certificates to those that meet the requirements and collect from them tax registration costs and administrative fees.



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Required Documents[edit]

  • An industrial and commercial business license or other similar permit of business operation
  • A contract, agreement and articles of association
  • The unified organizational code
  • The ID card, passport or other valid ID certificate of the legal representative, or responsible member of owner
  • Other documents and information demanded by the tax authorities of a province, autonomous region or municipality directly under the State Council


Office Locations & Contacts[edit]

State Administration of Taxation
Address: Yangfangdian Road, Haidian District, on the 5th
Zip: 100038
Tel: 010-63417114
Website: http://www.chinatax.gov.cn

State Administration for Industry and Commerce People's Republic of China
Address: 8 Sanlihe Donglu, Xichengqu, Beijing, 100820, P. R. China
Phone: +86-10-68010463/68013447
Facsimile: +86-10-68010463/68013447
Email: [email protected]
Contact
Address



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Eligibility[edit]

Net wealth tax is established using the general tax base, in other words, by assessing taxable wealth. It applies to opaque companies only. It affects net assets as they appear on their balance sheet at the end of a tax period:

  • residents are taxed on their global assets (Chinese assets + foreign assets);
  • non-residents are taxed only on net wealth held on Chinese soil.



Fees[edit]

Explain the fees structure which is required for obtaining the certificate/document.



Validity[edit]

Explain the time until which the certificate/document is valid.
e.g. Birth Certificate Valid Forever



Documents to Use[edit]

Please attach documents that can be used by people. e.g. links



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Sample Documents[edit]

Please attach sample completed documents that would help other people.



Processing Time[edit]

Please explain processing time taken in obtaining the document/certificate.



Related Videos[edit]

Videos explaining the procedure or to fill the applications. 
Attach videos using the following tag <&video type="website">video ID|width|height<&/video&> from external websites.
Please remove the "&" inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver, 
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url "http://www.youtube.com/watch?v=Y0US7oR_t3M" Video ID is "Y0US7oR_t3M". 
	



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Instructions[edit]

With the registration, no locality or department can permitted to impose arbitrary burden in the form of money or materials from taxpayers. Every taxpayer has the right to turn down such demands.

The people's governments of the provinces, autonomous regions and municipalities directly under the State Council formulates rules for the implementation of the Regulations in accordance with the provisions thereof and report to the Ministry of Finance for the record.



Required Information[edit]

  • The name and the number of the ID card, passport or other valid ID document of the institution, legal representative or owner
  • The residence or business address
  • The type of registration
  • The accounting system
  • The form of production and business operation
  • The scope of production and operation
  • The total amount of capital (fund), investment
  • The term of production and operation
  • The name and telephone number of the financial chief
  • Other information specified by the State Administration of Taxation



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Need for the Document[edit]

It is a tax based on the market value of assets that are owned. These assets include, but are not limited to, cash, bank deposits, shares, fixed assets, private cars, assessed value of real property, pension plans, money funds, owner occupied housing and trusts.



Information which might help[edit]

Private enterprises and individual industrial and commercial entities shall apply to the tax authority of the location where their industrial and commercial administration registrations are made for tax registration on starting business; other taxpayers shall first apply to the Tax Registration Center (2nd Floor, Building No. 1, Lane 1060, Lujiabang Road) for approval of tax unit administration and then receive tax unit administration approval slips. After that, they shall apply to the designated the tax authority for tax registration on starting business on the production of these tax unit administration approval slips.

The main content of a tax registration certificate shall cover: the name of the taxpayer, tax registration code, name of the legal representative or responsible member, address of the production or business operation site, type of registration, form of accounting, scope of production and business (main line and side lines), date of certification, and the effective term of the documents, etc.



Other uses of the Document/Certificate[edit]

It is a tax based on the market value of assets that are owned. These assets include, but are not limited to, cash, bank deposits, shares, fixed assets, private cars, assessed value of real property, pension plans, money funds, owner occupied housing and trusts.



External Links[edit]

Tax Law

State Administration for Industry and Commerce People's Republic of China

State Administration of Taxation of the People's Republic of China

Ministry of Commerce, the People's Republic of China

Tax Law

State Administration of Taxation



Others[edit]

Every company has to register with both the SAT and the local tax bureau, and Customs as required. Given the complexity of the taxation structure, tax regulations can be interpreted in different ways by different offices and officials, even among the different districts of the same city. Different offices in different regions may have different interpretations towards tax regulations released by the central government, and their implementation efforts may vary. Check with local tax administrations or reputable service providers for the latest tax policy in the location where you are based.