Personal
Financial Management FAQ's
Which type of income will be subjected to payment of individual income tax
(IIT)?
The taxpayer has to pay attention that there are a lot of types
of income:
Income from wages and salaries;
- Income from private industrial and commercial households from
their production and business operations;
- Income from contracting or leasing enterprises and institutions;
- Income from remuneration for labor service;
- Income from authors' remuneration;
- Income from royalties;
- Income from interest, stock dividends and bonuses;
- Income from lease of property;
- Income from transfer of property;
- Occasional income; and
- Other incomes specified as taxable by the department of the
State Council for finance.
Whether the place of payment is inside the China or not, it
shall be regarded as income derived from sources inside China if
it is
- Income from personal services provided inside China because of
the tenure of an office, employment, the performance of a contract
and etc.
- Income from the lease of property to a lessee for use inside
China.
- Income from the assignment of property such as buildings, land
use rights, etc. inside China or assignment inside China of any
other property.
- Income from the licensing for use inside China of any kind of
licensing rights:
- Income from interests, dividends and extra dividend derived
from companies, enterprises and other economic organizations or
individuals inside China
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