The Corporate Tax Rate in China stands at 25 percent. This dataset provides - China Corporate Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

This graph shows the annual growth of corporate income tax revenue in China from 2014 to 2024. In 2024, revenues from corporate income tax in China decreased by *** percent compared to the previous year.

The Withholding Tax Rate in China stands at 10 percent. This dataset includes a chart with historical data for China Withholding Tax Rate.

The Personal Income Tax Rate in China stands at 45 percent. This dataset provides - China Personal Income Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Hong Kong HK: Total Tax Rate: % of Profit data was reported at 22.900 % in 2017. This stayed constant from the previous number of 22.900 % for 2016. Hong Kong HK: Total Tax Rate: % of Profit data is updated yearly, averaging 23.000 % from Dec 2005 (Median) to 2017, with 13 observations. The data reached an all-time high of 24.100 % in 2008 and a record low of 22.600 % in 2013. Hong Kong HK: Total Tax Rate: % of Profit data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Hong Kong – Table HK.World Bank: Company Statistics. Total tax rate measures the amount of taxes and mandatory contributions payable by businesses after accounting for allowable deductions and exemptions as a share of commercial profits. Taxes withheld (such as personal income tax) or collected and remitted to tax authorities (such as value added taxes, sales taxes or goods and service taxes) are excluded.; ; World Bank, Doing Business project (http://www.doingbusiness.org/).; Unweighted average; Data are presented for the survey year instead of publication year.

In 2020, the tax rate for medium sized businesses in China was the highest at approximately **** percent of all commercial profits. Contrastingly, the tax rate for medium sized businesses in Brunei was just eight percent of all profits in 2020.

The Sales Tax Rate in China stands at 13 percent. This dataset provides - China Sales Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2022, enterprises with foreign investments in China contributed around **** percent of total tax revenue in China. Foreign invested companies had accounted for **** percent of total tax revenue in China in 2009, but their share declined gradually thereafter.

This dataset provides values for CORPORATE TAX RATE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

This study examines the influence of the reduction in value-added tax (VAT) rates in China during 2018 and 2019 on corporate financialization. By employing a difference-in-differences model and utilizing data from Chinese A-share listed companies between 2017 and 2020, we assess the effects of tax reduction policies. Moreover, it achieves this outcome through three main pathways: alleviating financing constraints, boosting fixed asset investment, and weakening corporate financial arbitrage motives. Further analysis demonstrates that the inhibitory effect of VAT rate reduction on corporate financialization is more pronounced for non-manufacturing companies, businesses reliant on the basic tax rate as their primary revenue source, companies with low intermediate input rates, and those with a strong ability to shift the tax burden. Additionally, debt financing costs play a crucial role in moderating the relationship between tax reduction policies and corporate financialization. The conclusions drawn from this study provide valuable empirical evidence that can contribute to the refinement of VAT reduction policies and the prevention and resolution of financialization at the micro-level.

This study examines the influence of the reduction in value-added tax (VAT) rates in China during 2018 and 2019 on corporate financialization. By employing a difference-in-differences model and utilizing data from Chinese A-share listed companies between 2017 and 2020, we assess the effects of tax reduction policies. Moreover, it achieves this outcome through three main pathways: alleviating financing constraints, boosting fixed asset investment, and weakening corporate financial arbitrage motives. Further analysis demonstrates that the inhibitory effect of VAT rate reduction on corporate financialization is more pronounced for non-manufacturing companies, businesses reliant on the basic tax rate as their primary revenue source, companies with low intermediate input rates, and those with a strong ability to shift the tax burden. Additionally, debt financing costs play a crucial role in moderating the relationship between tax reduction policies and corporate financialization. The conclusions drawn from this study provide valuable empirical evidence that can contribute to the refinement of VAT reduction policies and the prevention and resolution of financialization at the micro-level.

Price-To-Tangible-Book-Ratio Time Series for JC Finance & Tax Interconnect Holdings Ltd. JC Finance & Tax Interconnect Holdings Ltd. engages in heat treatment equipment businesses in China. It offers smart electronic taxation bureau and tax-enterprise connection platform. The company also manufactures and sells atmosphere furnace, vacuum furnace, sensing devices, non-atmosphere heating equipment, plasma equipment, software, and auxiliary equipment, as well as provides processing, after-sales, and consultation services. The company was formerly known as Jiangsu Fengdong Thermal Technology Co., Ltd. and changed its name to JC Finance & Tax Interconnect Holdings Ltd. in May 2017. JC Finance & Tax Interconnect Holdings Ltd. was founded in 1988 and is based in Yancheng, China.

The global Tax Big Data market is experiencing robust growth, driven by increasing government initiatives towards digitalization, the need for enhanced tax compliance, and the rising adoption of advanced analytics for fraud detection and revenue optimization. The market's expansion is fueled by the growing volume of tax-related data generated from various sources, including businesses, individuals, and financial institutions. This surge in data necessitates sophisticated solutions for efficient processing, analysis, and interpretation, leading to high demand for Tax Big Data platforms and services. We estimate the market size in 2025 to be approximately $8 billion, projecting a Compound Annual Growth Rate (CAGR) of 15% between 2025 and 2033. This growth is further propelled by the integration of artificial intelligence (AI) and machine learning (ML) techniques into Tax Big Data solutions, enabling more accurate risk assessments, improved audit processes, and personalized tax services. Key restraints include concerns regarding data privacy and security, the high initial investment costs associated with implementing Tax Big Data systems, and the need for specialized expertise to manage and analyze complex datasets. However, the long-term benefits of improved efficiency, reduced operational costs, and enhanced tax revenue collection are outweighing these challenges, driving sustained market growth. Major players in the market, including Digital China Information Service Company Ltd, Aisino Corporation, and Inspur Electronic Information Industry Co., Ltd., are continuously innovating and expanding their offerings to cater to evolving market demands, fostering competition and further propelling market expansion. The market segmentation is likely diversified across various service types (software, consulting, implementation), deployment models (cloud, on-premises), and end-user sectors (government agencies, businesses). Geographic regions with advanced digital infrastructure and strong government support for digital transformation are expected to dominate the market.

In 2023, the leading foreign company by revenue in Russia was Chery Automobile, a Chinese automotive manufacturer, having earned over *** billion Russian rubles. Japan Tobacco International (JT Group) ranked second with a revenue of *** billion Russian rubles. Following the Russian invasion of Ukraine, hundreds of Western companies exited the Russian market in 2022. What attracts foreign companies to Russia? With a population of over *** million people, Russia has the ninth-largest consumer base in the world. Furthermore, the country ranks 11th by nominal gross domestic product (GDP) globally. Russia’s membership in the World Trade Organization (WTO) reduces trade barriers and eases trade for foreign and domestic business alike. Moreover, its special economic zones, of which there are currently **, simplify the migration regime and offer tax preferences for organizations willing to do business in the region. Among the founding BRICS countries, Russia offers the lowest corporate tax rate of ** percent, compared to ** percent in China and ** percent in Brazil. Exodus of foreign companies from Russia In response to the war in Ukraine that started in *************, foreign companies began limiting their business ventures or completely exiting the Russian market. In fact, all ** of the most valuable brands worldwide have withdrawn, suspended, or scaled back their sales, shipments, or operations in the region. The exodus of international companies had a negative impact on employment in the country, whereas foreign brands were estimated to suffer profit losses. As of November 2022, the British energy company BP reported the highest loss of ** billion U.S. dollars following its withdrawal from Russia.

A rich literature has noted political business cycles in democracies. We argue that in an autocracy with strong bureaucratic institutions, the pressure of evaluation and promotion has also generated political cycles of tax break policies. Furthermore, the timing and content of the evaluation have driven leaders to use tax breaks strategically to build economic performance, producing distributional consequences. Combining panel data of 1,510,153 firm-year observations with city leader data from 1995 to 2007, we find that the tax break rates dropped for most firms during mayors’ turnover years. In the first year of office, i.e., the “busy year,” mayors needed to prioritize large firms and especially large foreign firms. Small domestic private firms bore the cost of tenure cycles. In the last year of the mayor’s tenure, i.e., the “dust-settled” year, there was little incentive to seek promotion, and even important firms could not gain the mayor’s attention.

The Resource Tax Law was officially implemented on September 1, 2020, in China. This law presents the “Fee-to-Tax” reform of water resources. This article compares the effects of the “Fee-to-Tax” reform under asymmetric duopoly conditions with perfect information. The mechanisms of the two policies are different when all firms simultaneously respond to water resources: the water resource fee affects output by reducing market size, while the water resource tax reduces output by amplifying the weighted cost difference effects between companies. Water resource taxes work better than fees for eliminating backward production capacity. A comparison of the situation when companies respond sequentially is also carried out. When a low-cost firm is in the leading position, the collection of fees actually reduces the output difference, whereas the tax improves it. When a high-cost firm acts as a leader, the effects depend on the cost difference. When the cost difference between firms is small, the first-move advantage of high-cost firms dominates the cost advantages of low-cost firms. Therefore, a higher tax rate yields a smaller output difference. When cost differences are relatively larger, the cost advantage of low-cost firms dominates the first-move advantage of high-cost firms. As the operational cost for reducing water consumption increases, the reduced water consumption first increases and then decreases.

According to Cognitive Market Research, the global Tax Management Software market size was USD 474.88 million in 2024 and will expand at a compound annual growth rate (CAGR) of 19.46% from 2024 to 2033. Market Dynamics of Tax Management Software

Increasing need for automated software to maintain large transactions as a key driver.

Due to globalization and the expansion of the e-business there is need for a platform that permits companies to do businesses across countries and the trade zones. There is a need of the software which could help businesses to meet the changing tax laws and to comply with rules. These software helps businesses to manage their compliances with the laws and allows them to meet the tax liabilities on time. For instance,

Increasing governments emphasis on the tax laws as a key driver.

Tax laws in a country play a prominent role in its economic development. The primary function of the taxation is to generate the revenue of the government. This revenue is used to finance a wide range of public services, including education, healthcare, national defense, infrastructure development, and social security programs. As per the survey conducted by the The State of Tax Justice 2023, Countries are losing $480 billion in tax a year to global tax abuse. Of the $480 billion lost a year, $311 billion is lost to cross-border corporate tax abuse by multinational corporations and $169 billion is lost to offshore tax abuse by wealthy individuals. For instance, in India the total number of evasion cases detected stood at 25,397, with a total detection amount of Rs 1,94,938 crore. In China, as per the administration they had punished 440,000 companies suspected of tax fraud and recovered 90.9 billion yuan in 2021, beating the 2020 figures of 322,300 and 85 billion yuan, respectively. These instances globally show the rising concerns regarding the tax collection. The World Bank's Global Tax Program (GTP), housed at the Fiscal Policy and Sustainable Growth Unit of the World Bank, was launched in 2018. helps countries in strengthening their tax systems with evidence-based, comprehensive, and sequenced reform programs at global, regional, and country levels. Restraints of the Tax Management Software

High Cost as a restraint 

Although modern tax and accounting software has many advantages, the high costs of obtaining, deploying, and maintaining these systems can be a substantial obstacle. For instance, the cost incurred in preparing the tax software like TurboTax on an average may fluctuate between $30,000 to $3,00,000 depending on the features like platform, design, technology stack and more. It can be categorized by basic, medium, and advanced app functionalities: • Basic-The Basic App provides essential functionalities such as income and deduction input, basic tax calculations, and straightforward e-filing. With a price range of $30,000 to $50,000, this option caters to users seeking a straightforward, cost-effective solution for their tax needs. • Medium- The Medium App enhances the tax preparation experience with additional features. Priced between $50,000 and $100,000, it goes beyond the basics, offering support for various tax forms, state tax filing capabilities, and integration with basic tax data providers. • Advanced-Tailored for users with intricate financial landscapes, this option boasts AI-powered tax optimization for maximizing deductions and credits. With a comprehensive interview-based filing system with a price range of $100,000+, it offers robust guidance and support, providing a top-tier solution for users navigating intricate tax scenarios.

Data Privacy hinders the adoption of tax and accounting software

The integration of artificial intelligence (AI) into tax filing systems has revolutionized traditional processes, promising enhanced efficiency and accuracy. As the firms digitalize they face a higher risk of data breaches, cyberattacks and privacy violations as they rely heavily on the digital platforms. Data breaches and the cyberattacks can lead to the losses and reputational damage to a firm. As a result, businesses hesitate to use the tax and the accounting software which don’t comply with the security norms. • For instance, as per 2019 report, the Government Accountability Office said that accord...

SMB Tax Filing Automation Market Outlook

According to our latest research, the Global SMB Tax Filing Automation market size was valued at $2.1 billion in 2024 and is projected to reach $7.8 billion by 2033, expanding at a CAGR of 15.3% during 2024–2033. One of the major factors propelling the growth of the SMB Tax Filing Automation market globally is the increasing complexity of tax regulations and compliance requirements, which is driving small and medium businesses (SMBs) to adopt automation solutions for enhanced accuracy, efficiency, and cost reduction. As governments worldwide continue to enforce stricter tax laws and digital reporting mandates, SMBs are under mounting pressure to modernize their tax filing processes, further fueling demand for innovative automation platforms. This trend is expected to accelerate as more SMBs recognize the value of automating their tax operations to minimize errors, avoid penalties, and free up resources for core business activities.

Regional Outlook

North America currently holds the largest share of the SMB Tax Filing Automation market, accounting for approximately 38% of the global market value in 2024. The region’s dominance is primarily attributed to its mature technology infrastructure, high digital literacy, and a well-established ecosystem of tax software providers. The United States, in particular, has a robust regulatory framework and a high concentration of SMBs that are early adopters of automation technologies. Furthermore, the presence of leading market players and a proactive approach to tax compliance and digital transformation have cemented North America’s leadership position. Government initiatives encouraging digital tax reporting and the ongoing shift towards cloud-based solutions are further reinforcing market growth in this region.

The Asia Pacific region is projected to be the fastest-growing market, with an impressive CAGR of 19.7% during the forecast period. This rapid expansion is driven by the increasing digitalization of business processes, rising awareness among SMBs about the benefits of automation, and significant investments in cloud infrastructure. Countries such as China, India, and Southeast Asian nations are witnessing a surge in the establishment of SMBs, which are increasingly seeking scalable and cost-effective tax filing solutions. The adoption of government-led digital initiatives, such as India’s Goods and Services Tax Network (GSTN) and China’s e-invoicing mandates, are further catalyzing market growth. Venture capital investment in fintech and SaaS companies focused on tax automation is also accelerating the pace of innovation and market penetration in the region.

Emerging economies in Latin America, the Middle East, and Africa are experiencing a gradual but steady increase in the adoption of SMB Tax Filing Automation solutions. However, these regions face unique challenges, including limited access to advanced technology, fragmented regulatory environments, and a lack of skilled professionals. While localized demand is growing, especially in urban centers and among export-oriented SMBs, policy inconsistencies and infrastructural gaps pose significant hurdles. Nevertheless, government efforts to improve tax compliance and broaden the tax base, coupled with increasing mobile and internet penetration, are expected to create new opportunities for market players targeting these regions. Strategic partnerships with local technology providers and customized solutions tailored to regional tax requirements will be crucial for success.

Report Scope

In 2024, the income of local governments in China generated from the sale of land-use rights decreased by ** percent to **** trillion yuan. After the business tax was abolished and replaced by a value-added tax in 2016, local governments lost a significant share of their income. As a result, they turned towards the sale of land use rights, which resulted in local governments' necessity to facilitate real estate development independent of actual demand.

The implementation of tax reduction policies in China represents a significant and effective strategy. Accordingly, this strategy has been designed to facilitate the development of a green economy by establishing a market-oriented allocation system for environmental and resource elements, while simultaneously invigorating microeconomic entities. As the nation navigates towards the adoption of green, low-carbon production, and lifestyles, the role of clean and green energy emerges as a vital necessity. Therefore, to explain the impact of tax reduction policies on the green energy industry, this study collected and compiled financial indicator data from 100 listed companies in the green energy sector, utilizing the China Stock Market Accounting Research database (CSMAR) as a source for research samples. A Panel Vector Auto Regression (PVAR) model was employed to observe the effects of tax reduction policies on the energy industry, while the dosage effects Difference in Difference (DID) model was utilized to verify and supplement the findings. In summary, the findings of this study can be summarized as follows: firstly, tax reduction policies exert a positive impact on the green energy industry by effectively mitigating the financial cost burden on green energy enterprises, thereby reducing production expenses and amplifying their profitability. Secondly, such policies bolster the capital turnover rate of enterprises in the short term, thereby enabling augmented research and development investments, refining production efficiency, and enhancing competitiveness. Through rigorous analysis and demonstration, the research findings accentuate the stimulative and propulsive impacts of tax reduction policies on the flourishing development of the green energy industry. Furthermore, this study provides relevant fiscal and tax policy recommendations, thoughtfully derived from the research findings.