Comments on: The Five Year Rule http://dinglespeaks.com/2010/02/06/the-five-year-rule/ Endless Mindnumbing Prattle Mon, 28 Nov 2011 17:22:18 +0000 hourly 1 By: Msg http://dinglespeaks.com/2010/02/06/the-five-year-rule/comment-page-1/#comment-7968 Msg Sat, 06 Feb 2010 14:07:59 +0000 http://dinglespeaks.com/?p=1260#comment-7968 How many fish and chippers do you own in Blackpool anyway? How many fish and chippers do you own in Blackpool anyway?

]]> By: EQ http://dinglespeaks.com/2010/02/06/the-five-year-rule/comment-page-1/#comment-7965 EQ Sat, 06 Feb 2010 08:59:22 +0000 http://dinglespeaks.com/?p=1260#comment-7965 And by the way, my UK colleague does not have any tax equalization crap like I do. Why are you getting screwed? And by the way, my UK colleague does not have any tax equalization crap like I do. Why are you getting screwed?

]]> By: EQ http://dinglespeaks.com/2010/02/06/the-five-year-rule/comment-page-1/#comment-7964 EQ Sat, 06 Feb 2010 08:49:47 +0000 http://dinglespeaks.com/?p=1260#comment-7964 Dingleberry - yeah I am suppose to be tax equalized too, but luckily my company is so big and stupid, plus with the different legal entities/departments they get confussed easily, I have not been asked to write that big check to them! I even asked around quite a bit and tried to pay last year, but no one could help me. I tried, but guess I will give up this year :). So this part is pretty sweet, no taxes for me! Dingleberry – yeah I am suppose to be tax equalized too, but luckily my company is so big and stupid, plus with the different legal entities/departments they get confussed easily, I have not been asked to write that big check to them! I even asked around quite a bit and tried to pay last year, but no one could help me. I tried, but guess I will give up this year :) . So this part is pretty sweet, no taxes for me!

]]> By: T. http://dinglespeaks.com/2010/02/06/the-five-year-rule/comment-page-1/#comment-7960 T. Sat, 06 Feb 2010 05:47:57 +0000 http://dinglespeaks.com/?p=1260#comment-7960 I believe it's only about the possiblity of being taxed on extra-territory income. I don't know one person who actually is being taxed on income earned outside of China. But then again, everyone I know has taken their 30 days. Although on friend almost missed out on the "two transit days don't count" - and only luckily missed his flight back from the US and stayed an extra day at home. I believe it’s only about the possiblity of being taxed on extra-territory income. I don’t know one person who actually is being taxed on income earned outside of China.

But then again, everyone I know has taken their 30 days. Although on friend almost missed out on the “two transit days don’t count” – and only luckily missed his flight back from the US and stayed an extra day at home.

]]> By: dinglesp http://dinglespeaks.com/2010/02/06/the-five-year-rule/comment-page-1/#comment-7959 dinglesp Sat, 06 Feb 2010 05:16:52 +0000 http://dinglespeaks.com/?p=1260#comment-7959 EQ, I'm tax equalised so it doesn't make any difference for me, the company deducts the UK equivalent tax from my gross wages and then pays my Chinese tax for me (which i believe is slightly more than my UK tax). I offered to had in receipts for them to offset the tax but it seemed like they couldn't be arsed! 2 years ago I spent more time out of China than in China, so I don't need to worry for a couple more years anyway! EQ, I’m tax equalised so it doesn’t make any difference for me, the company deducts the UK equivalent tax from my gross wages and then pays my Chinese tax for me (which i believe is slightly more than my UK tax). I offered to had in receipts for them to offset the tax but it seemed like they couldn’t be arsed!

2 years ago I spent more time out of China than in China, so I don’t need to worry for a couple more years anyway!

]]> By: EQ http://dinglespeaks.com/2010/02/06/the-five-year-rule/comment-page-1/#comment-7958 EQ Sat, 06 Feb 2010 05:11:24 +0000 http://dinglespeaks.com/?p=1260#comment-7958 You could always go French style and take the full month of August off and escape the hellish SH weather. Even if unpaid, certainly much cheaper than paying UK taxes! But you might be ok anyway, that is assuming your company pays your China taxes for you. Tax rate is very high in China, well maybe not UK high, but all kinds of crap gets included in my "taxable salary" which I can only assume includes things like my housing costs, COLA, and other so called benefits. Still doesn't add up and I wish I got paid that much, but whatever...cause here is the thing. I just give all of the official Tax Receipt fapiaos to the tax guys and they are able to use all of these company paid for China taxes generate a Credit that that fully offsets my US taxes. You should look into this kind of credit for UK....or just take 1 month off! You could always go French style and take the full month of August off and escape the hellish SH weather. Even if unpaid, certainly much cheaper than paying UK taxes!

But you might be ok anyway, that is assuming your company pays your China taxes for you. Tax rate is very high in China, well maybe not UK high, but all kinds of crap gets included in my “taxable salary” which I can only assume includes things like my housing costs, COLA, and other so called benefits. Still doesn’t add up and I wish I got paid that much, but whatever…cause here is the thing. I just give all of the official Tax Receipt fapiaos to the tax guys and they are able to use all of these company paid for China taxes generate a Credit that that fully offsets my US taxes. You should look into this kind of credit for UK….or just take 1 month off!

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