by Ekrem Duman | Jun 21, 2026 | China Tax, Country Tax Guides
Accounting › Country Tax Guides › China Tax ⚡ TL;DRInvestment income in China is taxed separately from comprehensive income. Dividends and interest are generally taxed at a flat 20% with no deduction, though some categories have reductions. Capital gains...
by Ekrem Duman | Jun 21, 2026 | China Tax, Country Tax Guides
Accounting › Country Tax Guides › China Tax ⚡ TL;DRSalary is the most common income type in China, taxed as part of residents’ comprehensive income at 3%-45%. Employers withhold IIT monthly using the cumulative method and also handle mandatory...
by Ekrem Duman | Jun 21, 2026 | China Tax, Country Tax Guides
Accounting › Country Tax Guides › China Tax ⚡ TL;DRBeyond the RMB 60,000 standard deduction, China lets residents claim special additional deductions that significantly reduce IIT. These cover children’s education, continuing education, serious...
by Ekrem Duman | Jun 21, 2026 | China Tax, Country Tax Guides
Accounting › Country Tax Guides › China Tax ⚡ TL;DRChina’s Individual Income Tax (IIT) is progressive, with seven brackets from 3% to 45% for residents’ comprehensive income. A standard deduction of RMB 60,000 per year (RMB 5,000 per month)...
by Ekrem Duman | Jun 20, 2026 | Country Tax Guides, US Tax
Accounting › Country Tax Guides › US Tax ⚡ TL;DRGood record-keeping and meeting deadlines are the foundation of US tax compliance. Keep tax records at least three years (longer in some cases), since that’s the standard IRS audit window. Key...
by Ekrem Duman | Jun 20, 2026 | Country Tax Guides, US Tax
Accounting › Country Tax Guides › US Tax ⚡ TL;DRThe IRS charges separate penalties for filing late (failure-to-file) and paying late (failure-to-pay), plus interest on unpaid tax. The failure-to-file penalty is much larger, so always file on time even if...
