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PRC Gazettes Reform Promotion Plan for Income Sharing between Central, Local Govt
The State Council gazetted a Reform Promotion Plan for Enforcing Adjustment on Income Sharing between Central and Local Government after Larger Scale of Tax and Charge Cut.The Plan...
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PRC Gazettes Reform Promotion Plan for Income Sharing between Central, Local Govt
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2019/10/09 17:36
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The State Council gazetted a Reform Promotion Plan for Enforcing Adjustment on Income Sharing between Central and Local Government after Larger Scale of Tax and Charge Cut.

The Plan outlined the initiatives in three directions: keeping 50:50 VAT sharing ratio between central and local government; re-anchoring the sharing mechanism of VAT tax rebate between central and local government; and extending the coverage of consumption tax from production (imports) to wholesale or retail.
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