Vat

1. Meaning, Who support this tax, who collect it. Please explain in detail the process and the calculation.

2. Exercice :

VAT rate : 20%

Firm W - Total sales value 100000 - Purchase input 0 -

Firm S - Total sales value 400000 - Purchase input 100000

Please calculate for both firm the VAT due to the tax bureau

IIT

1. Meaning, Please explain the difference steps to calculate your IIT.

2. Exercice: You earn 59000 rmb/month with a yearly bonus of 1 month. You provide a special mission to Vatel school every year providing you a one time wage of 40000 rmb Monthly contribution to China social security 5000. You have one kid at school, and your grandmother live in your home. You still have large mortgage to reimburse every month. At the same time your are following a one year online education program from Tsinghua university to get more professional skills. Please calculate your IIT

Duties

What is the strategies of each countries toward Duties, explain.

GENERAL

Please comment the evolution (evolution%, economical, social reasons...)

CORPORATE TAX

What do we need to get ready and pay attention in order to calculate the corporate tax?