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PREMIER IN ACTION

Tax reform to boost vitality of economy

Premier Li’s message to tax and financial authorities signaled that the landmark tax reform must reduce burdens on all industries.

POLICIES

State Council urges tax reform

State Council issued a circular to fully implement the trial program of replacing business tax with VAT starting May 1, 2016.

Transition plan on VAT income division

The State Council issued a transition plan on adjusting VAT income division for central and local governments on April 30.

NEWS

Tax reform to prop up economy

China has put all industries under a unified value-added tax regime in a bid to deepen the country’s economic reform.

Officials delink VAT, rise in hotel room rates

Tax authorities have said it is not right to raise hotel room rates citing the new value-added tax or VAT, which replaced the old revenue-based tax on May 1.

PHOTOS

VIDEOS

OPINIONS

Taxation in China, one step closer to modernization

Under the leadership of Central Committee and the State Council, Chinese tax administration has witnessed significant progress over the past few years.

Expansion of VAT to cover all industries

Starting May 1, China extended the value-added tax to cover construction, real estate, finance and consumer services.

VAT reform — a critical step in China’s supply-side reform

Most China watchers still need time to realize that the current transitional period of the world’s second largest economy encompasses reforms that incubates fresh impetus for robust growth.

China presses VAT reform for greater economic vitality

Against a backdrop of greater downward pressure on the economy, China will press ahead with value-added tax (VAT) reform to foster new momentum for sustainable growth.

Corporate income tax reform enhances services sector

China’s economic reform process is well underway after the central government announced a timeline for structural reforms to the tax system, an Australian expert said.

China to have one of the world’s most progressive VAT systems

China’s planned replacement of business tax with value-added tax (VAT) in all sectors will establish it as a country with the most progressive VAT systems in the world, a leading accountant said on March 5.

IN FOCUS

  • Reform of State-owned enterprises
  • Economic developments in 2015
  • Production capacity cooperation
  • New normal, steady growth