Value-added Tax System to Be Modified

Xu Shanda, vice director of the State Administration of Taxation of China expressed recently that the current value-added tax and income tax were urged to be modified since they hauled the corporate investment and innovation to some extent.

The obstruction of the current tax system embodies on the value-added tax which is rarely seen internationally. The issue has aroused the attention of relative department. And the tax reform is under full discussion.

Source: Panorama

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