ABC Ltd, a consultancy company based in the Macau Special Administrative Region, provided consultancy services to a client in Shanghai. According to the service contract, ABC Ltd will receive a fee, net of value added tax (VAT), of RMB500,000. The Shanghai tax authority considers that ABC Ltd has a China permanent establishment and so has assessed ABC Ltd to enterprise income tax (EIT) on the service fee based on a deemed profit rate of 20%. Consultancy service fees are subject to VAT at the rate of 6%.
How much enterprise income tax (EIT) will ABC Ltd have to pay on the service fee?
A.RMB100,000
B.RMB25,000
C.RMB23,585
D.RMB10,000
第1题
A、in the market
B、on the market
C、out of the market
D、at the market.
第2题
A.ask another company to obtain their money for them
B.look for other people to borrow money from
C.put their shares in the company back on the market
D.transfer their money to a more successful company
第3题
Option A: Joining Delta Ltd as a manager with a monthly salary of RMB40,000 and an annual bonus of RMB100,000 payable in December each year.
Option B: Providing services to Delta Ltd as a consultant for a consultancy fee of RMB50,000 per month.
Option C: Setting up his own sole proprietorship. He will pay himself a monthly salary of RMB20,000 from this sole proprietorship. For 2014 the net profit of the sole proprietorship after charging Mr Xu’s salary is expected to be RMB420,000.
Option D: Setting up a limited company, Xupa Ltd. He will pay himself a monthly salary of RMB20,000 from Xupa Ltd. For 2014 the net profit of the company after charging Mr Xu’s salary is expected to be RMB420,000. Xupa Ltd will pay enterprise income tax at the rate of 25% and distribute all of its profit after tax to its shareholder, Mr Xu, as a dividend.
Required:
Calculate the individual income tax (IIT) payable by Mr Xu for 2014 under each of the four options.
Note: Ignore value added tax and business tax. (10 marks)
(b) State, giving reasons, whether the following persons will be subject to individual income tax in China on their worldwide income in 2014:
(1) Ms Wang has her household in Xiamen and holds a China identity card. She has been studying in Australia since 2010 and has not returned to China for the last six years, including in 2014.
(2) Mr Beth is a US citizen, who has lived in China working for a non-government organisation since 2010. He has not travelled outside China for the last six years, including in 2014.
(3) Ms Ruth is an Australian citizen. She travelled to China and stayed in China for a total of 250 days in 2014. (5 marks)
第4题
A.ask another company to obtain their money for them
B.look for other people to borrow money from
C.put their shares in the company back on the market
D.transfer their money to a more successful company
第5题
A.ask another company to obtain their money for them
B.look for other people to borrow money from
C.put their shares in the company back on the market
D.transfer their money to more successful company
第6题
A.ask another company to obtain their money for them
B.look for other people to borrow money from
C.put their shares in the company back on the market
D.transfer their money to a more successful company
第7题
A.ask another company to obtain their money for them
B.look for other people to borrow money from
C.put their shares in the company back on the market
D.transfer their money to a more successful company
第8题
A.ask another company to obtain their money for them
B.look for other people to borrow money from
C.put their shares in the company back on the market
D.transfer their money to a more successful company
第9题
A.ask another company to obtain their money for them
B.look for other people to borrow money from
C.put their shares in the company back on the market
D.transfer their money to a more successful company
第10题
A.ask another company to obtain their money for them
B.look for other people to borrow money from
C.put their shares in the company back on the market
D.transfer their money to a more successful company
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