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#121
22-07-2006, 05:51 PM
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Re: Sales People for China, Hong Kong and Taiwan
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Glad to hear from you la....thought you will being abducted by some MMs.....hee...hee.... Bak Kut Teh cooked yet? Of cuz not yet lah bro..........still waiting for your confirmtaion on when you are coming over mah............Pls RSVP hor....at your soonest! Cheers bro......
__________________
SGP-SHA69, Another Simple Man Living life simple is a true blessing  所谓性爱..就是有性才能有爱 
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#122
22-07-2006, 08:14 PM
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Re: Sales People for China, Hong Kong and Taiwan
well, 30% of your salary in China is Tax Free. ie, if your salary is 10k RMB, then u pay tax on 7k RMB. but the 3k tax-free, u must submit 发票 to show that you are spending. Any 发票 oso can: telecomms / mobile phone, apartment rental, shopping, food, entertainment, transport. Anything. you can go pubbing, KTV, kio guay, get the 发票，it is acceptable for tax reduction. Even overseas receipts oso can (but may have to prove that you are in that city / country upon request by authorities, but usually wont).
I am not sure about other brudders' employment packages, but I believe that different people have different packages. If you think from another point of view, the tax in spore is oso not quite low. 20% of your monthly salary goes to cpf. but how much cash can u get outta this cpf, if at all? yes it is in your name, in your account. that makes things sound nice only. ok, u can use CPF OA to "buy" HDB in spore. who decides the price of HDB? even resale price is oso pegged to HDB (definitely higher than HDB). then where does the $$ u pay HDB for "your" flat goes to? hee hee, that is a billion dollar question!!! Medisave, ok, fine, can use to offset part of hospital bills only. can oso use to buy medical insurance to further offset some hospital bill, but u still cant offset hospital bills 100%. u still gotta pay some cash for hospital bills. SA, got policies on minimum age, minimum sum, etc etc. and the policy's been changing quite abit in recent years. end up, how much cash can you get from it? or, when u retire, what is the policy going to be? As far as I'm concerned, ever since I left sinkapore, I dun have cpf contribution oredi. I take all these $$ as thrown into the longkang. If eventually, can get something outta it, good. If not, I'm oredi prepared for it. I was offered a job in Netherlands. After some discussions + finding out tax regulations of several ang mo countries, the tax rate is ard 42% for my salary range. that includes social security of about 27%, if I did not remember wrongly. so the 42% income tax includes social security. cpf is also something like social security. in ang mo countries, u jobless, can get allowance from social security. in spore, u jobless, help yourself, god bless you. ang mo countries, most social security oso include some medical insurance. the salary we discussing about is ard 10k SGD per month, havent include other benefits or allowance. in SGP, I'm not sure about tax rate for this kinda salary. 15% ? 22% ? if 15%, I take it that the final tax I pay is 20 + 15 = 35%. if 22%, then final tax I pay is 42%. cos I cant get cash outta whatever cpf, I regard it as $$ thrown into longkang, or tax, or whatever, no difference. end of the day, I still dun get the cash, and I cant utilise it fully for my needs. whether 35% or 42%, still lower than the 30% in china, not to mention, as a foreigner in china, u pay tax on 70% of your salary only! that means, evetually, u pay about 21% of income tax! I regard, cpf, mpf, epf (whatever "f"), as playing with names only. it's a game of names & numbers. other aspects, I enjoy every bit of life in China, except banking & finance. but spore is oso not perfect, it oso has it's fair share of complaints on banking & finance problems. mebbe many brudders carry the same attitude & pace of work when they go overseas. for me, i take things easy. slow, slow lor. progress slower, got more time to enjoy, u wont get so stressed up for the need to progress, achieve target, work late, OT, etc etc. it's good to have a little pressure, so we push forward & improve & achieve targets. but too much pressure, the results can be counter-productive. just tell yourself honestly, put in enough effort to do it, but dun over-stretch yourself. at the same time, demand the same of your subordinates. dun over-demand. there is much more to life than work, progress, achieving targets. yes, we should set targets & work towards achieving it. but at the same time, enjoy other aspects of life. when u are not stressed up, u enjoy better health. u dun get hypertensive, heart attack, insomnia, poor appetite, spoilt moods, poor sex, no family time, no personal time, etc etc, the list goes on. relax, dun gan cheong, dun mang zhang, u enjoy good nite sleep (good sex), good appetite, personal life, family life, better health. much more meaningful & fulfilling life! we are over protected in the environment in spore. that is why, many people cant tahan outside, u lose your survival instincts. u go to big cities in other countries, u oso get similar security issues. yes, on the good side, spore is a very safe city. but it makes u lose your sense of survival, u take everything for granted. even the cleanliness. why the locals can tahan not-so-clean food, why sporeans cant tahan? they oso humans, they oso have 2 hands & 2 legs like sporeans. again, clean, hygienic environment is good, but it weakens your body. many sporeans say i too super bo chap, when u see the fellow (whether wearing business suit & tie, or like begger) squatting beside the longkang, rubbish dump or rubbish bin eating some chou dou fu or roadside hawker food may be me! ever tried eating a sandwich (breakfast) in the toilet when u pang sai-ing? and the sai at that time is abit like lao-sai.
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#123
22-07-2006, 10:15 PM
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Re: Sales People for China, Hong Kong and Taiwan
84 gunner. haha.. ya, indeed euro country is super expensive in tax.
I had been in & out of China for the past 10 yrs. I had seen how it grows and grows. From 10 yrs ago average salary of only Y500 to the present thousands of yuan. For taxation, it depends on company. Large MNCs follow country policies strictly, that is fapiao cannot use to claim back tax for salary. It is expense claimable only through company expense system where company will not be taxed. www.china-briefing.com can get quite a lot of info on this item and chinaexpat.com as well. For taxation in China, not true 30% not taxable. The tax system for foreigners work in this way: First Y4800 is non taxable. So if you earn say RMB10k, you only pay tax on RMB10k - RMB4.8k = RMB5.2k income earned. So calculation for tax is like this lor: (10k - 4.8k) * 0.2 (20%) - 375 = Y665 tax lor. As the price move up the tax go crazier lor, e.g. If earn RMB50k, the tax will be: (50k - 4.8k) * 0.3 - 3375 = 10185 tax lor, so you only got back RMB39,825 In singapore, for singaporeans, alot of tax deductibles to claim like CPF, etc. If you got kids, even best, maybe even no need to pay tax. For a bachelor who support parents, income of about SGD$120k a yr will only incur about S$6k - max $10k only lor. In china, siaoz liaoz... You ganna tax about S$2k/mth, so your tax in China will be about $24k/yr (RMB120k+) lor as can be seen from above example. Computation of China taxation system is: Total Remuneration (including allowances, etc that the company do not treat it as under the company expense claimables. YOu may be able to avoid tax by allowing company pay directly for apt, etc, then it is non-taxable) Taxable Income Range 应税收入级距 (I) tax rate 税率 ( R) Quick Deduction 速算扣除数 (D) I<=500 5% 0.00 500<I<=2,000 10% 25.00 2,000<I<=5,000 15% 125.00 5,000<I<=20,000 20% 375.00 20,000<I<=40,000 25% 1,375.00 40,000<I<=60,000 30% 3,375.00 60,000<I<=80,000 35% 6,375.00 80,000<I<=100,000 40% 10,375.00 I>100,000 45% 15,375.00 Tax Amount=I*R-D / 税款=应税收入×税率-速算扣除数 CPF money at the end still yours lor. You can use it for investment or housing and non-taxable in Sinagapore. But I agree with you on eventually where the money go as sillipore belong to the you know who empire la. If you have commitments in singapore, then you will feel the pinch lor. If no commitment in singapore and really move over here for good to work and do business together and make it rich, then definitely here is better lor. With the cheaper cars, cheaper food, cheaper woman (Is this true? hehe.. not true le, as they are intelligent chicks le), etc. I also agree with you, sillipore people as I can see from those that come over for business trips only really sometimes kiasi and also not flexible lor. Here you have to be damn creative and flexible to get things work. Never fight their govt bureacreacy and act proud. Use other ways and approach or get agents to do the work for you. Best is get singapore salary and pay singapore tax, then send here many times for business trips but stay not exceeding 180 days per yr, like that no need to pay exhorbitant tax here. haha.. Or some people do traveling between HK and China to ensure 180 days limit lor. ciaoz. Good hunting in China. I had been in Shanghai since early last yr.
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#124
22-07-2006, 11:45 PM
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Re: Sales People for China, Hong Kong and Taiwan
brudder supercockanadoo,
as a foreigner going china for biz trips, the limit is 183 days per calendar year. yes, many folks travel to HK, some to macau, over some weekends so as not to exceed the limit, especially when they are near the borderline. for 30% non-taxable salary, here, it is playing ard with flexibility. I was with 1 of the world Big5 Consulting firm, I was given that kinda "tax system". like you mentioned, the company declared my 发票 as expenses, it is categorised as allowance. So I pay tax only on my basic, which is 70% of my salary. so every month, I gotta fill-in a form, something like expense form, then submit it together with the 发票. the tax formula is as u had written. foreigners get Y4000 tax deduction, local PRCs get Y1000 tax deduction. there are several views to look at these systems of social security or cpf, or whatever u call it. for me, i dun have the confidence i will get much, if anything, outta it, so i make preparation for the worst. yes, cpf $$ is still yours, under your name. while in china, once tax is paid, it is not even under your name at all. outright belongs to govt, to the country oredi. that is why i said it's playing games & with names. put it under your name, you dun feel that miserable, you still tink that it belongs to you. u use cpf for investment, but u cant cash out your investment gains. it still goes back into your cpf. probably can "buy" a bigger / more expensive property with it. cpf contribution tax deductible up to 5k only. the bigger your property, the more your property tax. if your house is registered as a biz address (SOHO), then your property tax will be much higher! I have a property in spore, my parents stay in it. probably tat is the only commitment i have in spore. there is some plans to re-locate my parents to china, then sell the property. i believe i m rather emotional when it comes to this issue. i wasnt given a fair opportunity to go university, i had to do it overseas. the list goes on for unfairness, time & opportunity loss. when i was down & out, spore govt policies 落井下石, went to see MP oso useless. MP juz write letter, then the replies came back (standard) as according to this policy it's like this, that policy is like that. you are in this position. period. at 1 point, i considered ending my life. but if that happens, it wont be my life only, but several lives will be gone together as well. i was oso tinking of working as a waiter / bartender for rest of my life, got abit more $$, can spend $40 go geylang to enjoy abit, no $$ then pcc at home. work, go home, sleep, wake up go work again. dun bother about any other things. who gave me a 2nd chance in life? it is China. most people wont go against $$, but to a certain extent, sometimes even if it meant paying more tax or abit more $$, I'd rather spend or pay it overseas than to spore. i feel sour if I spend or pay it to spore, and feel neutral or dun feel anything when i spend or pay overseas. you can say it is a form of gratitude to China, whether they recognise it or not. She gave me a 2nd chance in life, another chance to go back to my career, my life, now I am doing much better than ever before in my life, much better than when I was in spore. no regrets, no looking back ever since I left. now, i tell the head hunters, i dowan to work in spore, i wont consider any job offers from spore. only exceptions are, the job requires me to be outta spore most of the time (end up like travelling to spore for short biz trip), and that I wanna be paid in my HK bank account, dowan subject to spore cpf system, dun pay spore tax. most convenient & logical is pay HK tax. i dun mind coming under HK MPF oso. as long as $$ dun go to spore or spore govt. if you are wondering, i m only in my early 30s.
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#125
22-07-2006, 11:59 PM
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Re: Sales People for China, Hong Kong and Taiwan
Sad to say now all oversea allowance is now taxable
beginging 2006.No more extra spending money! My coy have post memo about tax structure. Garment now out to get every cent earn, be it locally or overseas.
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#127
23-07-2006, 12:35 AM
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Re: Sales People for China, Hong Kong and Taiwan
QUOTE=84gunner]u mean china tax or spore tax regulations?[/QUOTE]
Sillypore garment. Can't give much info as I don't get oversea assigment now,except from my own pocket.Wish I could cliam oversea expenditure when i used my hard earned money for holiday!
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#128
23-07-2006, 12:55 AM
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Re: Sales People for China, Hong Kong and Taiwan
wah, knnbccb, pui! lucky i outta spore liao. dunnit bother about this bullshit. heh heh, so i m rite in making this decision & arrangement: pay all my salary, all money into HK bank account.
if need, then remit $$ from HK to spore. HK banks v efficient, in fact more efficient than sillypore banks. I can do remittance via internet banking. sillypore banks still cant do remittance via internet banking. if I submit instruction b4 4pm HK time, I receive the money at end of business day in target bank account. submit after 4 pm, I receive the money next business day (HK). so I dun even need to be in HK when I wanna remit $$ from HK bank to other countries! HK bank ATM card oso got visa plus and maestro, so can withdraw local currency cash in many cities. exchange rate is determined by visa international (Mastercard International for maestro), service charge (flat fee) is imposed per withdrawal. spore bank ATM cards oso work exactly the same way. so dunnit bother about hassle of going money changer to change (local) currencies. I once had a chat with an ang mo in a pub in taiwan. he said the 2 cities, spore & HK, are always competing with each other. at least here, I feel that HK recognise the fact that many professionals are going regional / global, so provide this kinda facilities & service to fulfill the need, to attract more customers. now I am convinced that I should put my $$ in HK. HKD is oso more popular than many other currencies in China. now, I see HK is gaining more influx of foreign currencies in this aspect.
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#129
23-07-2006, 04:22 AM
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Re: Sales People for China, Hong Kong and Taiwan
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Wow! I'm seriously impressed with your analysis and arguments. You're starting to convince me that working overseas is a better choice. It really sets me thinking (or should I say re-think) of my future plans, whether to continue working overseas or return to work... Meanwhile, you've painted HK to be such a haven so any lobang to introduce there? Cheers, Shanghai Papa
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#130
23-07-2006, 12:33 PM
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Re: Sales People for China, Hong Kong and Taiwan
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Yo Bro 84Gunner, Very weel said & shared sentiments of yours herein. I was literally sharing the same fate as you b4 mentioned here, having the 2nd chance of my life & career here........................it was all saddening to face the shit from the 'NATO' S'pore government policies, the family back home but fortuntaely all went well after that............. Wishing u well in all coming & future endeavours............. Cheers..........
__________________
SGP-SHA69, Another Simple Man Living life simple is a true blessing 所谓性爱..就是有性才能有爱
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#131
23-07-2006, 01:29 PM
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Re: Sales People for China, Hong Kong and Taiwan
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from my observation, HK's market is oso pretty saturated, juz like spore. if i have any lobang, will let u know thru pm. only thing is that geographically & politically, HK is much nearer to China than SGP. therefore, HK has the leading edge here. of course, HK must oso be pro-active to capitalise on this advantage (probably subject to approval of Chinese govt for many policies), otherwise, it's juz another opportunity wasted. business wise, HK is often used as "interchange", for RMB currency, financial infrastructure, import / export interchange (logistics / tax reduction purposes), etc etc. many small enterprises / companies erupted from the business needs in China, but these are mostly "empty shells", many of them act as interchange or a stop in the process only. I may be wrong. HK is a well-known financial center, it's financial infrastructure & services are similar, if not better & more efficient, than sgp's. I believe this is 1 area where it is competing aggressively with sgp. an example: sgp banks' internet banking funds transfer (transfer $$ from 1 bank to another in sgp) take 2 days (only for same bank, the transfer is same day); u submit instruction 2day, the $$ is deducted from sending (paying) account immediately, but the money is received in receiving account only 2 business days later. so in between these 2 business days, where is that $$$? for interests & daily average balance (bank impose surcharge if u dun have enuf monthly DAB in your account) calculations, once the $$ is deducted, your account balance is the remaining after the deduction. as mentioned in previous posting, I submit remittance / TT instructions thru internet banking b4 1600 hr HK time, the receiving account gets the $$ at end of business day (receiving bank time). 1 is transfer within same country / city, the other is to another different country!
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#132
23-07-2006, 01:34 PM
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Re: Sales People for China, Hong Kong and Taiwan
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#133
23-07-2006, 01:55 PM
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Re: Sales People for China, Hong Kong and Taiwan
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Hi Bro, I am currently in Shanghai collecting Singapore Salary. I in and out china every 3-6 months. But I do not know what is exhorbitant tax leh ? Do you mean I need to pay tax although I come for a biz trip? My company havent got any office in China. I just come here In out on the basis to visit customer and do sales Please enlightened me. Thanks
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#134
23-07-2006, 02:59 PM
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Re: Sales People for China, Hong Kong and Taiwan
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Interesting points you put up there, me too early 30s, being classified a by product of the SG system, I will never get the chance to study in SG Uni, did my bachelor's degree in AU now doing my Masters in AU which I never dare imagine I am able to do in my life. I also haven't been contributing to CPF for quite sometime liao... hehe Just to put my 2 cents worth on banking system, to what I know, the 2 days taken in SG is following protocol, basically they just want to be sure they have enough funds in their Settlement Account in the Central Bank before they process it. I guess why HK banks are faster because they take the "risk", or they are super confident that their Settlement Account will always have enough funds, because once there is a mismatch, alarms will go off in that country's banking system and it is a big issue. But then again, most of us are small $ lah, so they can pass thru via batch processing, that's why probably HK banks are not too worried. If it is a big amount, the bank have to process it immediately, still, after knowing how the banking system runs in most countries, I guess SG, like usual, are kia see lah, just want to be safe and proper. I have met a few fellow SGreans like me, struggling and trying to make it out there, but then again, many are just comfortable with the safety net provided by the SG gov. Not only that, I am only basing this on my own observations, I just find SGreans are more likely to pit against themselves in not only local space, but foreign space and cyber space as well, which is quite sad.
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#135
23-07-2006, 04:58 PM
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Re: Sales People for China, Hong Kong and Taiwan
Guys,
I worked in China and declared only Y8000/month and my tax is only Y375 taxed paid by my company, the rest of my spore salary I do not have to pay tax in Spore but you MUST apply for it to be exempted. Yes, the higher you are paid, the more tax you will need to pay. Pay in HK bank is a good option. Cheers...
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