日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

US EUROPE AFRICA ASIA 中文
Business / Economy

Government 'mulls' consumer tax reform

(China Daily) Updated: 2016-09-08 07:42

Government 'mulls' consumer tax reform

Cosmetics on sale at a department store in Langxi county, Anhui province, attract consumers. [Photo provided to China Daily]

China is considering a consumer tax overhaul, according to sources, the latest indication reforms are being accelerated to help speed the shift toward a more consumption-led economy.

The Ministry of Finance has submitted the tax overhaul proposal to the State Council, said the sources.

The plan may change after it's debated by ministries that are part of the State Council, China's Cabinet, one person said. Finance officials broadly support tax cuts on cheaper cosmetics and toiletries, and talks also include raising alcohol and tobacco taxes, one person said.

The proposal would be another step toward a broader tax code overhaul following reforms of the value-added tax in May that will ease corporate payments.

Changes are needed to keep up with shifting consumption trends as products once seen as luxury goods are now every day items for China's rapidly expanding middle class.

The overhaul may have wide-ranging implications, from spurring budget-conscious smokers to kick the habit or making it less desirable to take a trip to South Korea to load up on beauty products.

It also could tip the balance of government finances: Whether to give a greater share of consumer tax revenue to provincial governments instead of the central government is also being debated at the State Council, one of the people said.

Such tax reform would be "a step toward a transparent tax system" that also aims to encourage consumption and healthier spending habits, according to Ding Shuang, the head of Greater China economic research at Standard Chartered Plc in Hong Kong.

Another measure being discussed is whether to levy taxes on energy-related products such as charcoal used for heating, according to one of the people.

The Ministry of Finance didn't immediately respond to a faxed request for comment on Tuesday.

The central government mandates and collects taxes nationwide on consumer goods, which brought in revenue of 1.1 trillion yuan ($165 billion) last year, Finance Ministry data show.

Most consumer goods are exempt from the tax, which applies to products including cosmetics, alcohol, tobacco, jewelry and fireworks sold by retailers and wholesalers.

The State Council weighs such proposals and seeks input from other ministries before deciding whether to proceed with a plan or send it back for modification.

Under the new value-added tax system unveiled earlier this year, taxes in the construction, property, finance and consumer service sectors will now be applied to the value added-such as the difference between wholesale and final sales price for a retailer-instead of a revenue-based levy.

Bloomberg

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 欧美爱爱视频 | 国产成人综合欧美精品久久 | 四库影院在线观看 | 手机看片久久 | 日韩每日更新 | 久久久极品 | 91国内揄拍国内精品对白 | 国产精选一区 | 性网爆门事件集合av | 日本男人的天堂 | 在线观看日韩视频 | 久久亚洲综合 | 免费看欧美大片 | 欧美日本精品 | 动漫日批视频 | 四虎影视在线观看 | 咪咪色影院 | 欧美精品在线一区二区三区 | av的天堂| 欧美激情一区二区三区 | avove在线播放 | 色播激情网 | 亚洲最新黄色网址 | av片亚洲 | 国产精品麻豆一区二区 | 国产精品自产拍 | 97蜜桃网 | 东京热毛片| 日韩每日更新 | 朝桐光x88av 国产亚洲精品久久久久久 国产免费嫩草影院 | 51成人做爰www免费看网站 | 免费在线播放av | 大地资源网在线观看免费官网 | 色激情综合 | 黄色亚洲视频 | 日少妇视频 | 99中文字幕| 欧美日韩久| 97在线观看视频免费 | 99久久综合 | 性爱一级视频 |