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China Readjusting Taxation Policy for WTO EntryThe State Administration of Taxation (SAT) is readjusting China's tax structure to meet the WTO requirements, a senior official said.Cheng Faguang, deputy director of SAT, said the government will revise relevant regulations which do not tally with WTO rules and on anti-dumping, subsidies, and on coinciding the policies towards Chinese enterprises and enterprises involving overseas investment. Practices prohibited by WTO rules will have a grace period for the transition, but will be changed in time to meet the requirements of WTO member countries. In the meantime, the country will use taxation as a lever to facilitate its fledgling industries and sharpen the competitive edges of some export-oriented industries in accordance with WTO rules. Cheng also said that taxation irregularities will be straightened out, especially in rural areas, to reduce the impact WTO entry will have on Chinese farmers.
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