Q&A SESSION WITH SHENZHEN MUNICIPAL OFFICE, STATE ADMINISTRATION OF TAXATION
2017-11-24 | South China
On November 24th the Shenzhen Municipal Office, State Administration of Taxation met with the Finance and Taxation Working Group of the European Chamber South China Chapter. During this meeting members addressed questions related to Value Added Tax and Corporate Income tax cases.
According to the Shenzhen State Administration of Taxation the tax revenue in 2016 reached 442.068 billion yuan. The tax contribution (excluding customs stamp duty) from foreign funded enterprises in Shenzhen accounted for 25% of total tax revenue in Shenzhen in 2016. In the first three quarters of 2017, the tax contribution from foreign funded enterprises in Shenzhen accounted for 26%.
Shenzhen Municipal Office, State Administration of Taxation is the functional department of national tax revenue in Shenzhen. Since the implementation of the "value added tax reform" on May 1st, 2016, the State Administration Tax Bureau is in charge of collection of the Value Added Tax, Consumption Tax, Corporate Income Tax, Export Rebates and Stock Trading Stamp Tax.
The meeting concluded with the hand-over of the European Business in China Position Paper 2017/2018 to Mr. Lin Han Yi, Deputy Director, Goods and Services Tax Department and Mr. Hu Limin, Deputy Director, Income Tax Department.