综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

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
...
阳原县| 平罗县| 绥阳县| 德州市| 梨树县| 宣武区| 武山县| 乐山市| 海门市| 姜堰市| 漾濞| 云霄县| 夏邑县| 灵宝市| 嘉义县| 旬阳县| 朝阳市| 咸宁市| 阳江市| 甘泉县| 乐昌市| 丽水市| 红河县| 伽师县| 义马市| 金昌市| 洪湖市| 根河市| 桂阳县| 呈贡县| 通城县| 新营市| 深水埗区| 益阳市| 江华| 南陵县| 拉萨市| 炎陵县| 关岭| 东阳市| 石棉县|