The company must pay corporate income tax on time every year.
Tips
memory
所得 (suǒdé, 'that which is gained / income') + 税 (shuì, 'tax') - tax on what you've earned. The structure 所 + verb forms a noun ('that which V's') - 所得 is 'what is obtained', i.e. income. Same pattern: 所见 'what is seen', 所知 'what is known'.
usage
Two main types in China: 个人所得税 (personal income tax, often shortened to 个税) and 企业所得税 (corporate income tax). The 个税 reform of 2018-2019 raised thresholds and added itemized deductions.
