Chinese Vice-Premier Li Keqiang has urged more taxation reforms and structural tax cuts to boost industrial upgrading and the transformation of the economic growth pattern.
China's top taxation watchdog on Monday said that two more provinces are ready to pilot a reform of replacing turnover tax with value-added tax.
China will launch a review of existing anti-dumping measures on Bisphenol-A imported from Japan, Singapore, the Republic of Korea and Taiwan from Thursday.
A pilot program to replace business tax with value-added tax in certain sectors to avoid double taxation will be launched in Guangdong province in Nov 1.
Expanding reform of value-added tax will help boost China's service sector and change its position as the "world's factory", experts and officials said.
Instead of paying business tax on all transactions in the industrial chain, modern service providers will pay 6 percent VAT.
Innovation in VAT 'boosts service sector'
Half a year ago, Shanghai piloted a tax reform in the transportation and modern services sectors, replacing their business tax with value-added tax.
Beijing may take the lead in the expansion of China's value-added tax pilot program by launching its VAT reform on Sept 1, a person close to the policymaking process said on Thursday.
The State Council on Wednesday approved a plan to extend a value-added tax pilot program in Shanghai to eight provincial-level regions.
Financial aid that companies receive as a result of the country's reforms to its value-added tax will be subject to corporate income tax.
Beijing will soon start a pilot program to replace turnover tax with value-added tax to accelerate structural adjustments in the economy, a statement from the local tax office said.
China's government revenue is maintaining a relatively high growth speed despite, with non-tax collections becoming the main driver.
China's personal income tax has become a hot topic of discussion, as despite people's rising wages, inflation means people have less purchasing power.
China's adjusted tax on inward goods comes into effect on Sunday, which means stricter control on goods coming into the Chinese mainland.
China will continue embracing structural tax reduction measures this year as part of its macroeconomic regulations aimed at promoting the steady and sustainable development of the national economy.
The central authority is proposing to initiate a networked database of personal information as a move toward collecting income tax on a household basis.
Authorities in Beijing are conducting "basic research" into a property tax for the city, a local housing official has said.
Finance Minister Xie Xuren said China will further deepen the reforms to its fiscal and tax systems to enhance transparency of fiscal budgets and improve tax policies.
Small companies should be given tax breaks in order to expand their business, said Li Jinzhu, vice-governor of Shaanxi province, on Monday.
Move to help boost domestic consumption, top official says
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