Reform to Raise Western China's Tax Income

To raise the tax income of underdeveloped regions, China is considering expanding the resources tax reform from Xinjian to the western provinces, says the South China Morning Post.

 

According to the Post, companies in the Western provinces currently and will continue to enjoy a 15% corporate tax income, against the 25% standard rate.

 

The Post says the reform will replace the volume-based tax with one that links the tax to resources prices.
 

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