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Chinese Taxes To Be Legislation-Based by 2020

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

27 March 2015


The Standing Committee of the National People's Congress (NPC) has stated that, by 2020, all of China's taxes can be expected to be based in legislation, rather than being imposed through government regulations from the State Council.

It was noted that only three of China's 18 current taxes – individual income tax, corporate tax, and vehicle and vessel tax – are levied through statutory legislation, while the remainder are imposed through formal or provisional regulations issued by the State Council.

A 1985 NPC resolution first authorized the State Council to introduce regulatory tax provisions. These regulations now cover a range of taxes, including the value-added tax, consumption tax, business tax, resource tax, urban land use tax, vehicle purchase tax, stamp duty, and tonnage tax.

TAGS: tonnage tax | tax | business | law | China | legislation | stamp duty | regulation | individual income tax

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