China’s growth puts wide-ranging tax reform high on Beijing's agenda
Communist China had no individual income tax before 1980 because personal earnings were so small. Today, in an era of high economic growth, its tax system is comparable with those in developed economies. But reform is inevitable - individual income tax comprised only 5.8 per cent of total revenue in 2012. Beijing must decide how to apply taxes not only to individuals but to business, foreign investors and fossil fuels, writes GIS guest expert Ken Davies.
CHINA’s taxation system has developed rapidly in the past three and a half decades of transition from state-controlled to market economy, like the nation’...
- Report is targeted to the decision makers in cross country manufacturing – suppliers, manufacturers, logistics.
- Also considered useful for the administrative university facilities, to better understand the possible effects of current decisions.