Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (2441)	1/9/2004 4:44:46 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

China to launch tax reforms to sustain growth Reuters Beijing, January 9 China, concerned over growing inequalities despite a booming economy, will launch tax reforms this year, including preparations for ending tax breaks for foreign firms, government officials and analysts said on Friday. The government hopes the reforms, the biggest since 1994, will help create a fair taxation system in line with the country's changing economic landscape and bring the nation's tax regime closer to international standards, they said. "Many frictions have occured between the current taxation system and the economic and social environment," the top government think-tank Chinese Academy of Social Sciences (CASS) said in a report seen by Reuters. The economy, which is expected to grow another eight percent this year, gave the government resources to tackle the tax system to address the yawning gap between rich and poor that posed a long-term risk to economic growth, the report said. China has already started reforming its creaky banking system with a $45 billion government injection to bail out two state banks. "There are pressing needs for the taxation system to improve and play a bigger role in enhancing economic growth and deepening reforms," Xie Xuren, head of the State Administration of Taxation, said in a recent speech published in state media. hindustantimes.com