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Individual income tax finalization for foreigners in China. By Eunice Ku. Jan. 14 â Individual income tax (IIT) is normally withheld from wages or salaries by employers and paid to the tax authorities on a monthly basis (within 15 days of the end of each month).
China Tax Rates 2017. The tax on an individual's income is progressive. As at 2017, an individual's income is taxed progressively at 3% - 45%. The 2017 corporate tax rate for domestic and foreign companies is 25%. Small companies pay 20% corporate tax in certain cases. Companies pay 10% corporate tax in certain regions. Hi-tech companies pay 15% corporate tax. China Capital Gains. An individual's capital gains are taxable in China at the rate of 20%. Capital gains tax for a Chinese company is added to the regular tax. A 10% deduction at source is made from the capital gains of a foreign company in China. On taxing capital gains from the sale of real estate, when calculating the capital gain the purchase cost is deducted from the sale price at the 20% rate.