Hi

I might be moving to Shanghai for work with a strange mix of local+expat package.

The local part means that I have to "pay taxes in Shanghai and no longer in my source country". The expat has quite nices perks, so I don't complain....

Anyway, I need some advice of the local taxes: how many are the local taxes that are to be payable? only income tax? is there any tax also on social security or other contributions systems?. I mean: is net income the result of gross LESS income tax or there is other steps also??

Can anyone advise on the matter?

thanks in advnace,

some they dont, some does! it depends with your basic and they will divide, multiply, subtract a figure and walla!

would somebody answer?

PM me with an e-mail address. I have a PDF of the tax rates, it is about 2 years old but it should give you an idea.

shanghaiceltic wrote:PM me with an e-mail address. I have a PDF of the tax rates, it is about 2 years old but it should give you an idea.

Would love a copy of that if you don't mind. You have PM. Thanks!

I do my monthly family finances and this is an example what your take home pay should be like after income tax, if your salary is say...RMB10,000. Hope this helps:

Total salary 10000
Deductiables -4800 (a standard sum for all income unless less than 5000)
Net taxble income 5200
x 20% 1040
Less fast calculations 375
tax payable 665

Base salary 10000
Less tax payable 665
Take home pay 9335
The calculation is based on the China taxation calculation, see below:
Level Net Chargeable Income Tax rate Deduction for Fast Calculation
1 part which does not exceed $500 5% 0
2 part which exceeds $500-$2k 10% 25
3 part which exceeds $2,000-$5k 15% 125
4 part which exceeds $5,000-$20k 20% 375
5 part which exceeds $20,000-$40k 25% 1,375
6 part which exceeds $40,000-$60k 30% 3,375
7 part which exceeds $60,000-$80k 35% 6,375
8 part which exceeds $80,000-$100k 40% 10,375
9 part which exceeds $100k 45% 15,375

^Cheers amig! I'm no tax expert -- what is "Fast Calculation"?

Here is the page we have on it - updated this year
http://www.shanghaiexpat.com/index.php? ... &pageid=12