Revised tax rules show progress in VAT reform
By Zhang Yue | China Daily | Updated: 2017-11-07 08:14
State Council moves to clarify policy after corporate tax is scrapped to ease burden on businesses
The State Council, China's Cabinet, has approved a revised regulation that marks a milestone in China's reform to replace corporate tax with value-added tax.
Since the 1950s, the country has taxed companies based on their revenue.
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