BEIJING - A pilot tax reduction?plan replacing turnover tax with value added tax (VAT) exempted 140.2 billion yuan ($23 billion) in 2013, China's taxation authority said on Thursday.
The State Administration of Taxation said that 2.7 million taxpayers involved in transportation and modern service businesses had applied for the?plan as of the end of last year.
The VAT reform is part of China's structural tax reduction package, which is aimed at easing the taxation burden for enterprises, especially small ones.
China started piloting VAT reform in transportation and modern service sectors in January 2012 in Shanghai, and expanded the reform in the two sectors to the whole nation last August.
China reforms business registration rules
Tax refunds to lure overseas tourists
 |
 |
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263 Registration Number: 20100000002731 
