China putting forward tax reform

China putting forward tax reform
05/11/2016 , by , in INTERNATIONAL

China is actively pushing forward reforms on property taxes as it overhauls its fiscal system, Finance Minister Lou Jiwei said.

China introduced an annual residential property tax on some homes in Shanghai and Chongqing in 2011 but it has not been expanded since.

China is also pushing forward reforms on individuals’ taxes and will also “adjust and improve consumption tax policies to further influence adjustments to production and promote consumption,” Lou said.

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