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China may deploy higher taxes on fossil fuels to reduce carbon emissions (photo: dpa)

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’...

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 Ken Davies
There was rough equality under Mao Zedong (who ruled from 1949 -1976): all were poor. Inequality has increased dramatically in recent years as the economy grew rapidly. The regime now fears it may endanger ‘social stability’
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