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anjinholuis
Joined: 30 Sep 2009
Posts: 37
Location: Shandong
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 Posted: Thu Oct 08, 2009 10:05 pm Post subject: CURRENT TAX BURDEN - NEWBIE- |
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GREETINGS EVERYBODY 
Should I expect TAX DEDUCTIONS on a 4200RMB salary?
First Timer!!! What's the percentage??? Anything for the social??? 
Really low salary, hope it works a spring board! 
CHEERS FOR THE FEEDBACK  |
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The Ever-changing Cleric
Joined: 19 Feb 2009
Posts: 1523
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| Posted: Thu Oct 08, 2009 11:22 pm Post subject: |
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dont shout !!!!
you probably wont pay any tax. |
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ttorriel
Joined: 13 Oct 2008
Posts: 193
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| Posted: Fri Oct 09, 2009 1:17 am Post subject: |
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| There are no less than 11 posts in this calendar year regarding the tax threshold |
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alter ego
Joined: 24 Mar 2009
Posts: 209
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| Posted: Fri Oct 09, 2009 3:24 am Post subject: |
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What kind of job is it? Why not ask your employer? I once heard any income under 3 or 4K/month isn't supposed to be taxed, but I'm not sure about this.
My polytechnic isn't deducting taxes from my salary, something about how Americans don't have to pay tax on any income while working in China, but again I'm not sure exactly why. Fine with me, but strange, as I thought taxes were mandatory for all legal foreign workers. But that's China, where much stranger things are always happening! |
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ttorriel
Joined: 13 Oct 2008
Posts: 193
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| Posted: Fri Oct 09, 2009 3:41 am Post subject: |
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uggg
4800 RMB per month is the beginning of your tax burden
You pay tax on the amount in excess of 4800 RMB per month
Thus, if you make less than 4800 RMB per month then you pay no tax
The tax rate is approximately 5 - 45 % - the more you make, the higher your rate |
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killian
Joined: 10 Jan 2003
Posts: 937
Location: fairmont city, illinois, USA
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| Posted: Fri Oct 09, 2009 4:58 am Post subject: |
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| 4800 per month? what are you one of those religious folks ? that pay is an insult and damages every foreign teacher. |
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alter ego
Joined: 24 Mar 2009
Posts: 209
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| Posted: Fri Oct 09, 2009 5:22 am Post subject: |
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Thanks ttorriel, I knew it was something like that. My salary is 7,200/month and no taxes are deducted from my pay. Not sure exactly why and I'm not asking!  |
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ttorriel
Joined: 13 Oct 2008
Posts: 193
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| Posted: Fri Oct 09, 2009 8:16 am Post subject: |
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| Some universities are exempt from paying taxes (including the foreign teachers) in fact. Unfortunately, I don't know how to find a list of such schools. |
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GypsyKingAdventures
Joined: 08 Feb 2009
Posts: 25
Location: Tampa, Florida
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| Posted: Wed Oct 14, 2009 5:00 am Post subject: Taxes... |
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| I agree with the last comment, I'm in DanYang (Jiangsu Province) at the #1 high school in our city and started 8 months ago at 5k rmb per month but am now up to 8k a month and no taxes are taken out from my school, which is sweet and unusual apparently. Now if I can just figure out how to convert it into $$$ without losing an arm and a leg in fees I'll be golden... |
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The Ever-changing Cleric
Joined: 19 Feb 2009
Posts: 1523
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| Posted: Wed Oct 14, 2009 5:57 am Post subject: Re: Taxes... |
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| GypsyKingAdventures wrote: |
| I'm in DanYang (Jiangsu Province) at the #1 high school in our city and started 8 months ago at 5k rmb per month but am now up to 8k a month and no taxes are taken out from my school, which is sweet and unusual apparently. Now if I can just figure out how to convert it into $$$ without losing an arm and a leg in fees I'll be golden... |
its not really that complicated. have you tried yet and if so, how did you go about it? how much did you lose as a percentage of the total? |
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GypsyKingAdventures
Joined: 08 Feb 2009
Posts: 25
Location: Tampa, Florida
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| Posted: Wed Oct 14, 2009 6:18 am Post subject: Converting Money... |
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Hey, haven't converted yet, only read about how to here in Dave's and it sounded pricey, and dicey..we are going to first try our school since we are legit and they have been helpful...then we have a Chinese friend who we could ask to go with us...and as a last resort we could deposit the rmb into her account and then have her wire money into our bank account...
We haven't needed to do this yet but we are coming down to the end of our teaching gig here and don't want to go home with lots of rmb... |
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LanGuTou
Joined: 23 Mar 2009
Posts: 621
Location: Shandong
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| Posted: Wed Oct 14, 2009 6:46 am Post subject: Re: Converting Money... |
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| GypsyKingAdventures wrote: |
l...then we have a Chinese friend who we could ask to go with us...and as a last resort we could deposit the rmb into her account and then have her wire money into our bank account...
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Why don't you simply ask your Chinese friend to accompany you to a large branch of the Bank of China, fill in an exchange form and convert the currency there and then. You may have to order the foreign currency 24 or 48 hours in advance depending on the quantity.
If it's not a huge amount of money, say a few of thousand USD for example, either convert to travel cheques (checks) and carry through customs or just take the cash home.
If it's a considerable amount of cash, transfer it yourself, preferably not through Western Union which can be expensive (some of the newer private banks in China are able to do it providing you already have the foreign currency available). |
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