porno Chinese Law | China: What penalties are employed in the Chinese tax system?
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What penalties are employed in the Chinese tax system?

What penalties are employed in the Chinese tax system?

General penalties that can be imposed are A) Fines, destruction of illegally printed invoices, confiscation of illegal incomes. B) Confiscation of incomes of other parties who illegally provide bank accounts, invoices, certificates etc. so that taxpayers pay less or no tax. More specifically penalties are as follows: 1. If a taxpayer does not pay on time a daily fine is collected equivalent to 0.0.5% of the tax unpaid from the date the tax became due. 2. If there is a failure to accomplish tax registration issues there may be a fine imposed not exceeding 2,000RMB or a fine exceeding 2,000 but not 10,000RMB. The same fines are applied to cases where the taxpayer fails to use the tax registration certificate as required. Under serious circumstances the fine may exceed 10,000RMB but not 50,000RMB. 4. If a tax payer fails to make a declaration of tax or underpays the amount payable, the fine imposed may exceed 50% but not five times the amount of tax unpaid or underpaid.


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