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WebHMRC has today published details of the settlement offer that (if accepted by each taxpayer) will eliminate the exposure to upwards of £1.6 billion of "Dry Tax" that HMRC had previously said was due from around 700 Eclipse members as a result of their participation in the Eclipse scheme. WebIndividual income tax ("IIT") - progressive rates range from 3% to 45%. Value-added tax - applies to the sale of goods, except real estate properties, and the provision of labour services in relation to the processing of goods and repair and replacement services within China. The standard tax rate is 17% with certain necessities taxed at 13%. most popular gifts for tweens