Reported about 1 year ago
The 20th Third Plenary Session of the Chinese Communist Party will be held on July 15, marking consumption tax reform, including expanding the taxation scope to luxury goods and private jets, as a key agenda. This reform aims to adjust the distribution ratio of financial revenues between the central and local governments to alleviate local financial pressures. Analysts suggest that expanding taxation coverage and reallocating taxes to local regions will be key focuses of the future consumption tax reform in China.
Source: YAHOO