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China Will Open Up To Foreign Investment, Lower Import Tariffs

by Mary Swire, Tax-News.com, Hong Kong

07 March 2018


China plans to actively expand imports and open up to foreign investment by reducing tariffs and taxes, according to a work report released by the Government ahead of the annual parliamentary session.

Taxes on businesses and individuals will be cut by over RMB800bn (USD126.4bn), said Premier Li Keqiang in the report, released on March 5.

China will also cut import taxes on cars and some other consumer goods.

To attract more foreign investment, profits reinvested in China by overseas investors will be exempt from tax.

TAGS: individuals | tax | investment | business | tariffs | China | Tax

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