United States | China | Difference in China | |
---|---|---|---|
Gross Income | 38,150.94 USD / 30,000.00 GBP | 274,629.60 CNY / 30,000.00 GBP | - 0.00 GBP |
Tax Due | 5,862.66 USD / 4,610.10 GBP | 49,570.92 CNY / 5,415.03 GBP | + 804.93 GBP |
Net Income | 32,288.28 USD / 25,389.90 GBP | 225,058.68 CNY / 24,584.97 GBP | - 804.93 GBP |
Overall Tax Rate | 15.4 % | 18.1 % | + 2.70 %. |
Figures based upon 1 USD = 0.78635022 GBP.
Figures based upon 1 CNY = 0.10923804 GBP.
In United States, an income of 38,150.94 USD / 30,000.00 GBP is more than the lowest average advertised salary of 24,694.00 USD / 19,418.13 GBP and less than the country's average income of 60,000.00 USD / 47,181.01 GBP.
In China, an income of 274,629.60 CNY / 30,000.00 GBP is more than the lowest average advertised salary of 66,000.00 CNY / 7,209.71 GBP and more than the country's average income of 240,000.00 CNY / 26,217.13 GBP.
Here are how much some common purchases cost in United States vs China:
United States | China | Difference in China | |
---|---|---|---|
Water Bottle (1.5L) | 1.75 USD / 1.38 GBP | 3.92 CNY / 0.43 GBP | - 0.95 GBP |
Milk Bottle (1L) | 0.82 USD / 0.64 GBP | 12.67 CNY / 1.38 GBP | + 0.74 GBP |
Pint of Beer | 4.00 USD / 3.15 GBP | 6.00 CNY / 0.66 GBP | - 2.49 GBP |
Bread (500g) | 2.58 USD / 2.03 GBP | 10.74 CNY / 1.17 GBP | - 0.86 GBP |
Chicken Breasts (1kg) | 8.48 USD / 6.67 GBP | 25.22 CNY / 2.75 GBP | - 3.92 GBP |
Petrol UK Gallon | 3.27 USD / 2.57 GBP | 32.22 CNY / 3.52 GBP | + 0.95 GBP |
Volkswagen Golf or Equivalent | 21,845.00 USD / 17,177.82 GBP | 140,000.00 CNY / 15,293.33 GBP | - 1,884.49 GBP |
Broadband Internet Monthly | 62.44 USD / 49.10 GBP | 100.18 CNY / 10.94 GBP | - 38.16 GBP |
Rent One Bedroom Apt. In City (Monthly) | 1,261.46 USD / 991.95 GBP | 3,582.47 CNY / 391.34 GBP | - 600.61 GBP |
Purchase One Bedroom Apt. In City | 89,561.15 USD / 70,426.43 GBP | 1,671,389.30 CNY / 182,579.29 GBP | + 112,152.87 GBP |
Part of North America, United States covers an area of 9,144,930 square kilometers.
United States has a Gross Domestic Product (PPP) of 18,561.93 ($ Billion) from a population of 326,474,013.
A progressive tax system spread over 7 bands ranging from 0% to 37%.
2019 Tax bands are as follow:
Below 9700 USD - 10%
Between 9700 USD and 39475 USD - 12%.
Between 39475 USD and 84200 USD - 22%.
Between 84200 USD and 160725 USD - 24%.
Between 160725 USD and 204100 USD - 32%.
Between 204100 USD and 510300 USD - 35%.
Above 510300 USD - 37%.
The standard single person's deduction is 12,200 USD and the personal exemption is now 0 USD (2019). The Tax Cuts and Jobs Act of 2017 reduced personal exemptions to zero for tax years 2018 through 2025.
The PEP provision (personal exemption phaseout) tapers the personal exemption when income is over 261,500 USD. 2% reduction for every 2,500 USD over the limit.
Social security tax is 6.2% on up to 132,900 USD of gross income (2019).
Medicare hospital insurance tax is 1.45% of all gross income - increased to 2.35% on income over 200,000 USD (single person).
Source: https://www.irs.gov/tax-professionals/tax-code-regulations-and-official-guidance.
Source: XE.com (Currency Conversion).
Source: SalaryExplorer.com (Averages from average salaries in major job categories).
Source: Numbeo.com (Cost of living).
Part of Asia, China covers an area of 9,386,293 square kilometers.
China has a Gross Domestic Product (PPP) of 21,269.02 ($ Billion) from a population of 1,388,232,693.
A progressive tax system spread over 7 bands - ranging from 3% to 45%.
Tax bands are as follow:
Below 36000 CNY - 3%
Between 36000 CNY and 144000 CNY - 10%.
Between 144000 CNY and 300000 CNY - 20%.
Between 300000 CNY and 420000 CNY - 25%.
Between 420000 CNY and 660000 CNY - 30%.
Between 660000 CNY and 960000 CNY - 35%.
Above 960000 CNY - 45%.
A standard personal allowance is available of 60,000 CNY.
Social security contributions (Beijing): Pension 8%, Medical 2% + 3 CNY, Unemployment 0.2%. Total 10.2% + 3 CNY. Capped at 23,565 CNY.
Source: http://www.chinatax.gov.cn/2013/n2925/.
Source: XE.com (Currency Conversion).
Source: SalaryExplorer.com (Averages from average salaries in major job categories).
Source: Numbeo.com (Cost of living).
This calculator allows you to calculate income taxes and social contributions equivalent for United States and China and allow comparison between both. You can choose the preferred currency for the input amounts and displayed calculation. For example: If you choose GBP as your preferred currency, then the income entered will be converted to United States's and China's native currencies for the calculation so that correct income equivalent is used. The results will then be shown in the native currencies and GBP.
We have trawled through the quagmire of tax legislation for 16 of the World's major economies and created a comparable position as close to the UK's PAYE (Pay As You Earn) system for employed people.
We look at each country's taxation for employed people, as well as things like medical care which are part of social contributions for some countries or require mandatory purchase of health insurance.
Combining this information lets us calculate taxes for each of the 16 countries and then do not only a taxation comparison but also a comparison of buying power based upon commonly purchased items.
It is quick and easy to use and you can get a detailed result at the click/tap of a button!
Compare tax using these examples:
We currently support the following countries - by clicking on the links below you can just do an individual tax calculation for those countries - or scroll up and compare tax between two countries directly!
Source: https://www.impots.gouv.fr/portail/international
Source: http://www.citizensinformation.ie/en/money_and_tax/tax/income_tax/how_your_tax_is_calculated.html
Source: http://www1.agenziaentrate.gov.it/english/revenue_agency/index_revenue.htm
Source: http://www.impotsdirects.public.lu/fr.html
Source: http://www.agenciatributaria.es/AEAT.internet/en_gb/Inicio.shtml
Source: https://www.estv.admin.ch/estv/en/home.html.
Source: https://www.gov.uk/government/organisations/hm-revenue-customs.
Source: http://www.bundesfinanzministerium.de/Web/EN/Issues/Taxation/taxation.html.
Source: https://www.irs.gov/tax-professionals/tax-code-regulations-and-official-guidance.
Source: http://www.cra-arc.gc.ca/tx/ndvdls/fq/txrts-eng.html
Source: https://www.ato.gov.au.
Source: http://www.ird.govt.nz/how-to/taxrates-codes/rates/itaxsalaryandwage-incometaxrates.html.
Source: https://www.nta.go.jp/foreign_language/.
Source: http://www.chinatax.gov.cn/2013/n2925/.
* calculations are currently based on the 2019 tax rules, rates and allowances for comparable single individuals in each country.