Broader tax overhaul to pep up China's economy
As China waves goodbye to business taxes (BT) with one hand, it is welcoming a fairer business environment with the other.
VAT reform to benefit foreign firms, too
The overall tax burden on enterprises operating in China will be lower as a result of the value-added tax (VAT) reform. Experts said that while businesses in many services sectors will directly benefit from it, manufacturing firms will be better off as their purchased services are now deductible.
Highlights
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Officials delink VAT, rise in hotel room rates
Tax fog boggles property developers
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Hotelier abandons plan to hike prices
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Local governments 'to be hit by adjustment to VAT'
Extending VAT reform can save $93b in 2016
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