Job Discussion Forums

phis · Joined: 10 Mar 2003 Posts: 250

And I reiterate HFG - why make it so difficult? Yes, they do insist on changing to foreign currency first (on paper), but they do all this in the same transaction. The whole thing from start to finish takes about 20 minutes maximum, depending on whether their computers are working or not. You definitely don't have to change your money to dollars in a separate transaction, and produce the physical dollar bills, before asking them to do a transfer.

Thanks for the info on producing tax documents. I definitely won't be going this route myself - nor will I have to, seeing I only have two more transfers to do.

james s · Joined: 07 Feb 2007 Posts: 676 Location: Raincity

beautification · Joined: 09 Jan 2007 Posts: 111

Thanks, for the alternatives.

I finally did get my tax slip, it only only took close to four months!

And as for the people who haven't had to show them at the bank you do need to at the banks where I am (hence the reason for the post).

I do agree that it would be easier to get a Chinese person to send the money for me. As for Western Union seems just has hard for me as the bank does because of my limited ability to speak Chinese. Using the bank or western union will be a headache.

tw · Joined: 04 Jun 2005 Posts: 3898

I got my tax receipt today -- after almost two months of weekly trips and phone calls to the school's FAO office and the school's finance department. On Monday I pretty well just said I'd go to the taxation office myself and today it came. It was sealed and inside it says I'd paid 40 RMB last year for income tax. It has the red chop from the district's tax office.

So now I know the school hasn't been "stealing" FTs' money as one FT has alleged.

OGFT · Joined: 24 Jun 2006 Posts: 432

40 RMB is not much to pay for one year's income.

tw · Joined: 04 Jun 2005 Posts: 3898

eslstudies · Joined: 17 Dec 2006 Posts: 1061 Location: East of Aden

One would think not worth the effort, unless you need it to send money home through a bank.
My bank in Shanghai required tax receipts [which the school accounting office produced-if your school can't or won't then it is suss]passport and FEC. The last was important in that it showed the % of salary that could be remitted. My FAO had entered 100%. The bank did not query that.
The trick is, the amount you send cannot exceed what you can prove having paid tax on.
Getting a local to do it is fine if you 100% trust the person. This was SH: the biggest city, and financial capital. I'm sure its done differently in other parts of the country.
A friend just changed into USD with his regular currency dealer and wired it. Much simpler I guess.

phis · Joined: 10 Mar 2003 Posts: 250

What a positive thread this turned out to be! I think the overall conclusion is that there are several ways to transfer money and you should choose the one that best suits your circumstances.

I have already said that I am particularly lucky, in that the university where I work will go the extra mile to make the foreign teachers' stay as painless as possible. However, I do realize that there are some employers who are not willing to commit themselves to this extent.

I would suggest that at the beginning of your contract you ask your employer if they can transfer money for you. If they say 'NO', then go the other routes suggested.

BUT ask youself why your current employers are not willing to undertake a simple, routine transaction for you. If this is the beginning of your contract, it does not bode well for the future!

bendan · Joined: 18 Jun 2004 Posts: 739 Location: North China

phis · Joined: 10 Mar 2003 Posts: 250

No, my dear Bendan, it is not a black-market transaction. It is a legitimate method of transferring money, RECOMMENDED BY THE BANK OF CHINA ITSELF!

Please read carefully the preceding posts before attempting to 'flame' what has been a positive thread.

bendan · Joined: 18 Jun 2004 Posts: 739 Location: North China

It's entirely legal for a Chinese person to buy foreign currency and transfer it overseas (subject to some restrictions over the purpose, and with a $50,000 pa limit.) I don't believe simply doing it to allow a foreigner to convert his wages hassle-free is legal, as it prevents the government from controlling the FX transactions of foreigners.

cj750s · Posted: Mon Jun 04, 2007 11:40 am Post subject:

that is correct and a new banking law will require the recording of all such transaction to help with he tracking of taxes. Even those who get paid from overseas accounts are in the sights of the tax man.

But in all honesty...