Alliott Group’s monthly global tax digest for March
Welcome to March’s edition of TaxPulse
A monthly media round-up of news, views and comment pertaining to global taxation, provided by Alliott Group’s International Tax Services Group.
Asia Pacific Tax News
China unveils $298bn tax cuts to boost growth
Chinese number two Li Keqiang has outlined plans to cut billions of dollars in taxes in order to boost the world’s second-largest economy. Mr Li told 3,000 delegates at the National People’s Congress that China would aim to deliver nearly 2 trillion yuan ($298bn) of cuts in taxes and other company fees. A value-added tax for transportation and construction sectors will be reduced from 10% to 9%, and VAT for manufacturers will fall from 16% to 13%, he said.
BBC News South China Morning Post China Daily