What is export tax rebate? What is the rate?
It means the enterprise may drawback a certain percentage of VAY according to the regulation of National Taxation Department after the enterprise exports by itself the self-made products. The rebate rate is 10%-17% of the VAT that should be paid.
What kind of document should be submitted to get the tax rebate?
Customs declaration for exported goods, verification of collecting foreign currency, VAT invoice , special tax invoice and selling invoice.
What about the tax and fee for a foreign invested enterprise?
The tax includes national tax and local tax. The national taxes are mainly VAT, consumption tax and income tax; while the local taxes are water conservancy fund, urban real estate tax and so on.
How to calculate the VAT?
VAT = selling income(including tax) /1.17 ¢ú 0.17 - buy-in tax
What is the income tax rate of a foreign invested enterprise?
The income tax on foreign invested enterprises is levied at the rate of 26.4%. According to related regulations, from the year they begin to make profit, the enterprises with foreign investment shall be exempt from income tax for the first two years and allowed a 50 percent reduction for the following three years.
Can the equipment contributed by the foreign investors be free from tariff?
Only when the foreign invested project is listed among the national encouraged project scope, and confirmed by the provincial planning committee, economic trade committee or foreign trade and economic cooperation committee, can the equipment be free from the tariff.
Can the imported duty-free equipment be sold?
The imported duty-free equipment is under the control of the customs office and can not be sold, rented or transferred within five years.
What are other categories of local tax?
Other categories of local tax refer to urban real estate tax. For the private real estate, the rate is 1.2% of the remaining sum, while for rented real estate, the rate is 18% of the renting income.
What certificates should a foreign invested enterprise get?
A foreign invested enterprise should get the following certificate: certificate of approval, business license, legal person code certificate, national tax registration card, local tax registration card, customs registration card, exchange control registration card, bank account opening license, self-support export tax rebate registration certificate.
What is the approval authority of Shangyu People's Government?
Shangyu People's Government is authorized to examine and approve the industrial projects with no more than 30 million US$ and belonging to encouraged and allowed project scope.
What about the procedure for foreign invested enterprises to get the business license and the departments involved?
The procedure: project recommendation-- -company name registration--- project feasibility study report---the contract and regulations' examination and approval-- -certificate of approval--- business license. The involved departments: Development Planning Bureau, Foreign Trade and Economic Cooperation Bureau and Industrial and Commercial Administration Bureau.
How many days are needed to get the business license? Will the industrial zone help?
All the required documents well-prepared, seven working days are needed to get the business license, and the industrial zone will be responsible for all the procedure.
What documents shall be submitted to the authority to get the business license?
1. Copies of business licenses of the investors (identity card of natural persons)
2. Credit certificates of the investors
3. Certificate of the right to use the land
4. Project recommendation and its approval
5. Feasibility study report and its approval
6. Contract and regulations of the enterprise to be established and their approval
7. Certificate of approval
8. Joint venture intention letter
9. Appointment letter of the board members of the joint venture
10. List of the board members
What about the minimum amount of the registered capital for a foreign invested enterprise?
The minimum amount of the registered capital for a foreign invested enterprise is 500,000 yuan RMB.
What is the proportion of the registered capital to the total investment of a foreign invested enterprise?
1. The registered capital should occupy at least 70% of the total investment if the total investment does not exceed 3 million US$;
2. The registered capital should occupy at least 50% of the total investment, but not less than 2.1 million US$, if the total investment is 3 - 10 million US $ (including 10 million US $);
3. The registered capital should occupy at least 40% of the total investment, but not less than 5 million US$, if the total investment is 10 - 30 million US $ (including 30 million US $);
4. The registered capital should occupy at least 30% of the total investment, but not less than 12 million US$, if the total investment is over 30 million US $;
What is the minimum proportion of the foreign investment in a joint venture?
The minimum proportion of the foreign investment in a joint venture is 25% of the total registered capital.
Can a foreign invested enterprise contribute the capital by stages?
Yes. But within three months from it gets the business license, the enterprise should contribute at least 15% of the registered capital. The rest should be contributed within 1 ¨C 3 years according to the sum of the registered capital.
What about the term for one-stage contribution?
For one-stage contribution, the enterprise should contribute its capital within half a year since it gets the business license.
What kinds of projects can get the positive support from the local banks?
The local banks support hi-tech projects, foreign invested projects and national or provincial key projects.
How many kinds of bank loans in Shangyu? |
