Business tax
| Rate | ||
| Group A | transportation,construction,communication,culture and sports | 3% |
| Group B | hotels,restaurants,tourism,warehousing,advertising,transfer of intangible property，sale of real estate | 5% |
| Group C | finance | 5% |
| Group D | recreation | 5~20% |
| Land appreciation tax The ratio of increased value against the value of deductible items | Rate | |
| for the part | 50% or below | 30% |
| for the part | above 50% to 100% | 40% |
| for the part | above 100% to 200% | 50% |
| for the part | above 200% | 60% |
| Rate | ||
| For small-scale taxpayers | 3% | |
| For ordinary taxpayers | for the sale or import of itemised goods,processing,and repairing | 17% |
| for the sale or import of itemised goods | 13% | |
| for transportation charges | 17% |
Allowances
| Funds for enterprises | |
| Trade union fund | 12% of total basic wages |
| Employee welfare fund | 14% of total basic wages |
| Employee training fund | 2·5% of total basic wages |
| Donations | |
| Enterprises | up to 12% of the accounting profits |
| Individuals | up to 30% of the taxable income |
| 100% if donation made to certain funds approved by the government | |
| Entertainment expenses | |
| For domestic and foreign enterprises | 60% of the amount subject to a maximum of 0·5% of the sales/business income of the year. |
ALL FIVE questions are compulsory and MUST be attempted
1 （a）Company A is a manufacturing joint venture enterprise,which was established and started operations on 1 January 2009.The company‘s statement of enterprise income tax（EIT）payable for the year 2009， as prepared by the accountant of Company A is summarised below：
| Note | RMB | |
| Turnover | 200,000,000 | |
| Cost of goods sold | （120,000,000） | |
| ------------- | ||
| Gross profit | 80,000,000 | |
| Management and finance expenses | （1） | （35,000,000） |
| Investment income | （2） | 330,000 |
| Other loss:fixed assets written off | （3） | （200,000） |
| ------------- | ||
| Taxable profits | 45,130,000 | |
| ------------- | ||
| Tax rate | 25% | |
| Tax payable | 11,282,500 |
Notes：
（1）The management and finance expenses included the following：
| RMB | |
| Salaries and bonuses paid to staff （including RMB 100，000 as a long service award for the general manager） | 10,000,000 |
| Entertaining expenses | 1,500,000 |
| Distribution of samples for promotion purposes | 600,000 |
| Donation to a qualified charity | 200,000 |
| Staff and workers benefits | 200,000 |
| Amortisation of approved intangible assets from self-developed research | 60,000 |
| Penalty for late filing of Company A's tax statement | 100,000 |
| Stock loss provision | 400,000 |
（2）The investment income comprises：
| RMB | |
| Gain on disposal of listed B-shares | 200,000 |
| Interest income on national debenture（gross） | 30,000 |
| Gain on disposal of national debenture（net） | 100，000 |
（3）The original cost of the fixed assets written off was RMB 1,000,000,the accumulated depreciation was RMB 800,000 and the accumulated tax allowances claimed RMB 850,000.
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