China Plans to Cut Tax Burden of Businesses and Individuals to Support Economic Growth

China Plans to Cut Tax Burden of Businesses and Individuals to Support Economic Growth

To support the economic growth of the country, China will be going to cut the tax burden on businesses and individuals, which will also help to boost consumption. The tax structure will be modified from four to three column. From starting of July, product rates related to natural gas and agriculture items will cut from 13 to 11 percent. According to the statement, the decision was taken by Premier Li Keqiang at State Council meeting…

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