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Housing & Finance
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 Basis Knowledge for Paying Tax
Resident taxpayers include individuals with a residence in the Chinese territory or those who do not have a residence in China but have lived in China for a whole year during a taxation year. Resident taxpayers are under unlimited tax obligation, i.e., their income originating from both within and outside the Chinese territory is subject to income tax in China.
How to Pay Personal Income Tax
Once a foreigner assumes his post, he or
the employer should register with the competent tax authorities and pay income tax in accordance with China's tax law. |
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Housing & Finance
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 Interim Provisions on Import Taxes on Articles Taken into China by Foreigners Permanently Residing in China
Article 1 These Provisions reformulated in order to implement opening-up policy, strengthen international exchange and promote the development of foreign trade and economy.
Article 2 For permanent resident offices established by foreign enterprises, news agencies, economic and trade organizations, cultural associations and foreign legal persons upon approval by competent departments of the People's Republic of China, if their permanent residents such as foreign citizens, overseas Chinese and dwellers form Hong Kong, Macao and
Taiwan (including their spouses and minor children living with them) as well as other permanent residents (hereinafter referred to as permanent residents), who have been allowed to enter into China and have lived in China for more than one year, import articles
for self use, these Provisions shall be applied. These persons include: |
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Housing & Finance
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 It's generally less problematic to wait until arrival and using your debit or credit card in a local cash machine, which can be found everywhere in most towns. In recent years the official exchange rates have been close to market value, so official exchange rates can provide amounts similar to, or better than, unofficial ones. The airports in Beijing and Shanghai have cash machines which accept most international debit/credit cards.
Be sure to check for the Plus or Cirrus
symbols (whichever your bank supports), as there are many ATMs which are not linked to international networks and may retain your card, a very unpleasant prospect. |
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Housing & Finance
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New Rules for Property Sales to Foreigners
New rules to control foreign investment in China's property market have been agreed, following concern that surging foreign speculation in the market is forcing up house prices.
Shanghai-based China Business News reported
on July 17, 2006 that six government bodies including the Ministry of Construction and Ministry
of Commerce have signed an agreement on a rule
to regulate overseas capital in the property
market.
Foreign firms or individuals will have to use their
real names when buying residential houses. And foreigners will not be allowed to buy residential housing that is not for their "own use or own habitation."
"The measure provides a premise for the government to impose a property tax, which is very popular in most developed countries," said Xu Dianqing, professor with the China
Center for Economic Research of Peking University. |
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Housing & Finance
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 Purchasing or Renting a Home and Office in Beijing
If you are a newcomer in China, you may find it difficult to locate a house for yourself. The Beijing Housing Service Corporation for Diplomatic Missions will provide free consult service on office or residence housing, including recommending to foreign institutions suitable candidate houses when necessary.
You may also rely on trust-worthy housing intermediaries to do the job for you. When purchasing houses, you need to check whether the real estate developer has the full set of formalities for the sale. |
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Living Tips
