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2  (a)  Mr Wu – Individual income tax (IIT) for the month of September 2010

(1)  IIT for monthly employment income: (15,000 – 2,000) x 20% – 375 = RMB 2,225.                                            

IIT for the yearly bonus is:

Divide the bonus by 12: 20,000/12 = 1,667 to find the applicable tax rate of 10% and the fast deduction

factor of RMB 25 Apply to the bonus amount: 20,000 x 10% – 25 = RMB 1,975.                                                               

(2)  IIT on publishing the album:

USD 5,000 x 7 = 35,000 x (1 – 20%) x 20% x (1 – 30%) = RMB 3,920                                                        

Tax of USD 750 (RMB 5,250) has been withheld and this can be used to offset the IIT payable in full.                    

The balance of RMB 1,330 can be carried forward for the next five years and offset against IIT payable on other US income.                                                                                                     

(3)  IIT on publishing the postcard: 5,000 x (1 – 20%) x 20% x (1 – 30%) = RMB 560                                           

(4)  The gain from trading in listed shares is exempt.

(5)   Taxable income from the property sale: (200,000 – 160,000) – (200,000 x 5%) = RMB 30,000                           

IIT on the profit from the property sale: 30,000 x 20% = RMB 6,000                                              

(6)   The bank deposit interest is exempt.                                                                            

(7)   The insurance compensation is exempt.                                                                              

(8)   IIT on sale of an antique: (50,000 – 20,000) x 20% = RMB 6,000                                                     

(9)   IIT in relation to giving a lecture in France:

(300 x 9·5 – 800) x 20% = RMB 410                                                                                  

So, IIT of RMB 10 (410 – 400) needs to be paid in China.                                                           

(b)  Under IIT and the related rules directorship fees are taxed as ‘income from personal services’ at progressive rates from 20% to 40%.                                                                                                      

Where the executive takes both an employment position and a directorship from his employer, the director’s fees should be combined with the employment income and subject to the standard progressive rates for employment income of from 5% to 45%. Guoshuifa [2009][21]                                                                        

(c)  An individual is regarded as a PRC resident taxpayer if he/she either:

(1)   has his/her domicile in the PRC; or

(2)   has no domicile in the PRC, but has resided in the PRC for one year.                                               

An individual is deemed to have a domicile in the PRC if he/she habitually resides in the PRC due to registered native place, family ties or economic relationship.                                                                      

‘Residing for one year in the PRC’ means residing in the PRC for 365 days in a calendar year. Absence out of the PRC for a consecutive period of not more than 30 days in a single trip, or absence over a number of trips with an aggregate period of not more than 90 days within the same calendar year, are treated as ‘temporary absences’ and are disregarded.