国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Economy

Govt expands VAT program to all industries

By Dai Tian (chinadaily.com.cn) Updated: 2016-03-25 13:49

Govt expands VAT program to all industries

[Photo/VCG]

Construction, real estate, finance and consumer services will become the last four sectors to switch from business tax to value-added tax (VAT), starting from May 1, announced taxation authorities on Thursday.

The land fee paid to the government will be deductible from the tax base, according to a guideline released by the Ministry of Finance and the State Administration of Taxation.

Construction and real estate companies will be charged an 11 percent tax, while finance and consumer service sectors will pay a 6 percent rate under the guideline.

The move will put an end to the business tax, which has been blamed for causing tax on tax, or charging on the taxes already priced in.

China has been gradually replacing the business tax with VAT in a drive to boost real economy.

Premier Li Keqiang stated in the 2016 Government Work Report that the tax burdens for the industry will only decrease.

According to an official estimate released after a State Council meeting, the VAT reform is expected to reduce taxes by more than 500 billion yuan ($76.9 billion) this year.

Consumer services stocks should benefit the most, followed by auto dealers and makers, said the Credit Suisse in a note released earlier this month.

Hot Topics

Editor's Picks
...
于田县| 都江堰市| 攀枝花市| 海丰县| 上高县| 锡林浩特市| 邹城市| 绥棱县| 金塔县| 平度市| 化隆| 永丰县| 偏关县| 乐山市| 宜都市| 论坛| 河南省| 彭阳县| 通州市| 遂宁市| 鲜城| 老河口市| 乐东| 绥滨县| 黔西县| 东乌| 德清县| 湖北省| 道孚县| 高碑店市| 唐河县| 万荣县| 吉水县| 廉江市| 从江县| 河东区| 交城县| 凤台县| 临沭县| 柘城县| 兴业县|