Lower taxes: Chinese employees producing shoes for export at a factory in Shangrao, Jiangxi province. China has vowed to cut levies to lighten the tax burden of individuals and businesses as it looks to boost domestic demand in a year when economic growth is projected to slow from 2017. — AFP
BEIJING: China will lower the value-added tax rate on the manufacturing, transportation, construction, telecommunication and agricultural sectors from May 1, state radio reported, citing a cabinet meeting.
China has vowed to cut levies to lighten the tax burden of individuals and businesses as it looks to boost domestic demand in a year when economic growth is projected to slow from 2017.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
