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Taxes Configuration China

Warning.png   This document is still a work in progress. It may contain inaccuracies or errors.

Introduction

This module sets up commonly used VAT Taxes Rates and their VAT categories in China.

Once the module is installed, China VAT tax categories and tax rates are loaded as a dataset which can then be applied:

Tax Categories:

To check Tax categories configuration follow these steps:

1. Login under the Administrator role of your client.

2. Go to Financial Management -> Accounting -> Setup -> Tax Category or just type "Tax Category" in the "Quick Launch".

3. You will see that the tax categories will be populated as under.

Chinese tax category.png


1.“基本税率” - "Common tax category": This category is used for legal entities with a common business scale as defined by Chinese related business management department, and common product or service for transaction.

2. “低税率” - "Low tax category": This category is used for legal entities with a common business scale as defined by Chinese related business management department, and some defined product which are related to common people usage such as food, water, agricultural products (pesticides, forage),etc

3. “零税率” - "'Zero tax category'": This category is used for exporting products。

4. “征收率”- "Leviable tax category": This category is used for legal entities with a small business scale as defined by Chinese related business management department.


Tax Rates:

Tax Rates configuration can be reviewed under:

1. Login under the Administrator role of your client.

2. Go to Financial Management -> Accounting -> Setup -> Tax Rate or just type "Tax Rate" in the "Quick Launch".

3. The accounting information is also set for each tax rate in the "Tax Due" and "Tax Credit" fields of the "Accounting" tab.

Chinese tax rate.png

More Information

This Translation is brought to you by System In Motion

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